We tech folk would do well to remember that relatively few people have the good fortune of working in a labour market where demand outstrips supply. Being able to just quit with a comfortable buffer in the savings account and confidence that a better option is just around the corner is a rare privilege.
In a market where there is an oversupply of labour, a free-market race to the bottom results in significant suffering over a large number of workers while benefitting a small number of the already-wealthy. It is difficult to view this as a socially desirable outcome.
