Abundance Quote by Clive Lewis
“There is nothing efficient about firms spurning more productive technologies because years of unrelenting attacks on social safety nets and collective bargaining have created cheap labour in abundance.”
About This Quote
Source Article: Economic Commentary, 2023
Firms avoid better tech because cheap labor from weakened social protections makes it profitable, despite long‑term inefficiency.
In simple terms: Companies reject new tech due to cheap labor from weakened social..
Key Takeaway
Recognize hidden costs of cheap labor.
Themes
economics
labor
technology
policy
Mood
critical
analytical
Type
analytical
policy
When to use this quote
- business strategy
- policy making
- labor negotiations
- technology adoption
Key Concepts
efficiency
market failure
social safety nets
Questions to Reflect On
- How does labor policy affect innovation?
- What incentives could align efficiency with social welfare?
A Different Perspective
Cheap labor may sustain short‑term profit but harms long‑term growth.
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