The future of productivity-enhancing work is surplus labour: cheap, efficient, valued and available. The focus of labor economics in an era of low productivity, layoffs, supply shortages, high inflation, recessionary debates and rising interest rates should be the ability to raise the production competitively by modeling an abundance of labor.
How can more people be available to do more work, in rotation, for less?
Work of 2 hours, in 3 shifts, within a framework of 12 hours, paid below the minimum wage.
This means that instead of working 8-hour shifts, for a minimum wage often said to be out of proportion with the cost of living, the salary is lowered, but for shorter shifts, and lower wages.
There could be a tax exemption for that level of work, as well as a public-private partnership for housing or transportation, or a waiting area, or alternative learning programs at break times.
The goal is to have an abundance of workers, available for the service or production process, in a cost-time variation that can be fairly fair to employees, as well as incentivize new spending patterns.
Already, UBI [universal basic income] is seen as a possibility for what the future holds as automation evolves, but before UBI there is a possibility for another option, spend anchoring.
How is it possible to spend, say, X amount for food and transportation in a month in a community? Then Amount Y and Amount Z, all below supposed expectations. This peg will update for inflation and per season, but will provide a viable way to see capital available for more.
For example, how is it possible to spend as little as $100 a month on food, transportation, and a few light bills? The breakdown will include what to buy, where, how often to eat, manage, what transportation to use and how, then say $130 and $150. But amounts so small, that would perhaps not have been commonly imagined. The equivalent of much lower amounts in other places could be made and published.
This will ensure that consumer companies produce inexpensive products, so affordability takes priority as well as quality. Spending parities can help people get more out of what they have, so that for more expensive expenses, like health, rent, fees, insurance, debt repayment, mortgage , etc., they can save more.
In addition, low-level work below the minimum wage builds process knowledge, could guarantee promotion, reduce the consumer price index, and also ensure that certain service points are staffed, at the same time. exception of production, such as nursing homes and others suffering from stress and labor shortages.
Although the Inflation Reduction Act was signed, as well as the CHIPS Act for semiconductor production incentives, but labor [cheap, efficient, valued and available] is the magic of high productivity.