Nobel Laureate Spence Sees Potential Employment, Productivity Boom

The video discusses the challenges of achieving wage growth in the U.S., considering factors like technology, monopsony, and the tax system. It highlights the importance of strengthening unions and addressing skills gaps. The discussion shifts to global labor trends, predicting a strong economic recovery and the role of productivity-enhancing technology. The video concludes with a debate on the impact of raising the minimum wage, noting its limited effect on middle-income growth but its importance for lower-income earners.

What does the speaker suggest about the future of labor dynamics in the context of a K-shaped economy?

What is the speaker's perspective on the impact of minimum wage on employment?