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It is widely thought to have hastened the end of feudalism, by making labour scarce.
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This would make labour scarcer, so parents' wages might rise.
All of these trends reduce wages and employment for low-skill workers in labour-scarce and capital-rich advanced economies, and raise them in labour-abundant emerging economies.
Skilled labour is scarce.
That is a big loss where skilled labour is scarce.
The peasants were well-placed to protest against taxes and landlords' dues because labour was scarce.
Although Germany has high unemployment, skilled labour is scarce and Siemens does not want to lose it altogether.
The poor countries, where many of the new democracies have flowered, are typically endowed with abundant labour but scarce capital.
"Skilled labour is scarce out there so we have got to try and develop and train people".
Perhaps surprisingly, it has not caused a run-up in wages (by making labour more scarce), but it is pushing up other labour costs.
Any group that restricts entry into its occupation can keep its labour relatively scarce and thereby support the rate of pay that that kind of labour commands.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com