Very interesting video. This is a multi-faceted situation that few are not looking at. Too much ideology and less real analysis.
Corporations now have the cover of across the board, full blown automation. They are furthering this idea by promoting the we cannot get workers. Well, perhaps if you would offer more money and better working conditions, then you would have more workers. But they dont want to do that.
Hence, where forced to pay higher wages, they will only speed up the automation process. This is a good thing because society is better served by automation. It increases productivity, reduces health expenses, and eliminates crap jobs. Of course, it does generate another problem, what to do with all those workers.
By the way for some context, there were an average of more than 5 million jobs before COVID not filled, a point where I feel the economy was running stronger than it is now.
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This is the thing that worries the powers that be.
Personally, I have come to terms with the idea that human wants are infinite and human ingenuity combined with the profit motive is infinite as well. People will figure out what to do with their time and talents.
Technology is always a deflationary force. It allows us to do more with less. I'd actually be perfectly OK with the government paying people to do nothing as long as we have a free market in money. And we're getting there.
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Too long they just not willing to pay the right amount and still are in some areas.
And complaining about the issue having employee in the first place.