An article at TCS Daily points out something I've been asking for years. Why is it necessary to have such high unemployment rates in America? Alan Greenspan kept commenting on the link between labor and inflation, especially through the 90s and I always thought "this dude is so out of touch, automation and computers readily absorb far more cost than is imposed by higher earning rates."
The article goes on to point out that this is even more true today with the outsourcing of labor to other countries that goes on. Inflation is no longer intimately tied to labor costs. Therefore, every American should be able to get a higher paying job; even those kids flipping burgers should get paid more.
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