Don't you think it's a consequence of this asshole 'business' mentality of "if you ain't got more you've got less".
Every wanker with a business degree thinks they are running a good business as long as this years revenue is more than last years.
No one looks, or understands, or cares about anything below the line anymore. No one cares about running a sustainable business anymore, and certainly (as you said) labor is one of the last things businesses ever invest in.
Madness.