Question

"Corporate America has been accused of spending the last 35 years seeking out ways to reduce, or increase the efficiencies of its, labour force resource requirements".

Is this statement an accurate reflection of Corporate America's 'modus operandi'? If so, is this behaviour a natural consequence of technological advancement and structural unemployment? If not, is Corporate America operating under the principle of "Profit Maximization"?

Answer 1

"Corporate America has been accused of spending the last 35 years seeking out ways to reduce, or increase the efficiencies of its, labour force resource requirements"

This statement is indeed true as many of the corporate giants are indeed working in a way to increase their market shares and also placed reducing their costs of production also as their modus operandi. This is the reason why it can be seen through the statistics that the American labor is one of the best of its kind in terms of efficiency and with which technological advancement is also possible which comes as a natural consequence. Since there is a large scope for technological advancement and automation, unemployment also gets to prevail or in ther words there are chances of structural unemployment to prevail on the whole.