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One thing I don't fully understand is why the equilibrium for the demand/supply of labor is not enough to live on. Why does the hiring party get to be more picky (and thus pay less) among potential employees, while employees get to be much less picky in their job? Some theories:

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Replying to

and

@AndrewCutler13

I sort of don't buy this though? More understandable equilibriums often form even when one party is very uneducated and the other party is an expert - for example we don't see huge unfairness when Big Shoe sells shoes to poor people. The competition evens it out.

8:13 PM · Jan 31, 2019

Replying to

and

@AndrewCutler13

I think it's that the employer is negotiating for (1/employee_count) of their productivity, and the employee is negotiating for their entire income. More to lose. Maybe if the employer had to negotiate with the entire workforce at once, this would increase wages...

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