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Notes -
And now you know why all planned economies are indistinguishable from slave-owning operations.
It doesn't matter if you're less efficient at distributing labor when labor is not the limiting factor in your economy's growth. When labor is so worthless that laborers are actively competing to give it away, you (as a seller of labor) will find you must abide by more and more restrictions to sell that labor. This can include working longer hours, suffering quotas and beatings, not offending the master, actively making your job harder, and so on and so forth.
Note that, as you've identified, this labor isn't actually free to a buyer- you need to provide food and shelter (or the option to acquire those things). You don't even have to post guards if labor is sufficiently worthless (you do need them to ensure you're extracting the maximum potential from your slaves' labor)- there's nowhere for them to go, no better deal to be had, and they know that. It's more economically efficient if you provide these necessities yourself at the lowest resource cost possible, but they must be provided.
A minimum wage under slavery can be (especially when slaves are captured through conquest) zero, but zero is the lowest it can go. When the minimum wage for labor goes negative in an environment like this your slaves have no choice but to come after you for what's stored in your pantry- once enough people die of starvation, the supply of labor contracts, the wage goes back up to zero and equilibrium is restored.
Now, you might think that if something happened that grew agricultural productivity by an order of magnitude that the minimum wage would fall out, but it turns out that's not the case- instead, it freed up so many people to do so many different things that the supply of labor, then educated labor, started to become a limiting factor.
You may know that period as the Renaissance- typified by abolitions of slavery in European nations, AKA the first society-wide minimum wage law. Slavery wasn't abolished in the colonies for obvious economic reasons: the cost of labor was still basically zero there (and subsidized by colonial governments' conquest of those places).
No, slave societies invest in automation as much as they're physically able. The reason a slave society becomes a slave society is to get enough food that the most powerful are able to fund this, because if it is unable or unwilling it quickly finds itself enslaved by a rival society. That is why
is ultimately bullshit. While it is a meme for a reason, and market distortions such as 'no rival powers' can result in this- eventually a stronger society comes along and destroys them. The Confederate States lost to the Union because the Union outproduced them, and they outproduced them because their society was more industrious.
Finally, note that the inverse of that statement, "a system with five lazy layabouts who still get paid and one person who does the actual work", is an accurate characterization of unionized workplaces.
Note that the market forces that workers' ability to completely capture the regulatory apparatus also leads to depopulation- because said capture will always eventually make it too expensive for workers to produce more workers. This is the real reason TFR was an order of magnitude higher 200 years ago.
Unionized companies spend more on salaries and the like, but do you have evidence for a productivity difference between unionized and non union blue collar workplaces? While there’s surely a profitability difference actual productivity doesn’t seem to differ that much.
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