1min chapter

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S E17: The Labor Market - Live to Work, or Work to Live?

Think Like An Economist

CHAPTER

Is Robotics Going to Replace the School?

I think this question about robots and technology is really important, as so many of us are talking about this. It's also important to pay attention to other costs that employers pay. Some jobs have benefits like health care or paid sick leave - these raise the cost of a worker. Sometimes the government will give business owners tax cuts so they can hire more people. But at the end of the day, what matters for employers is what it costs them to hire an hour of labor. That's their all in compensation cost, not just the wage.

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