If a business was structured to deal with wages elastically, that's great for business, but can you imagine working for such a corporation? In theory, the reason we allow business to profit is because we all share in the benefits, but if a significant chunk of the market were structured like this, a large benefit to ordinary people (i.e. the ability to stabilly eat and shelter themselves) would be removed, removing a large chunk of legitimacy from the economic system.
If businesses were structured for high turnover, then we'd have to structure society for it too. This means providing all of the normal benefits to people via government services. Then, all employers would simply bid on workers with piece work or hourly contracts. People would continue having their medical care, food, and housing covered by the government, perhaps from a basic income.
I'm down with that. I just cynically expect that only the part that favors businesses gets delivered and the other stuff gets ground down to nothing over time. Just look at what's happening with the AHCA and Net Neutrality right now.
