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They were provided because labour demand outpaced supply. It's not the case for tech jobs in many North American markets, and certainly not the case for many o
by Mikeb85 10y ago
They were provided because labour demand outpaced supply. It's not the case for tech jobs in many North American markets, and certainly not the case for many other white collar jobs; even good paying ones.
When supply begins to overshadow demand, whether due to immigration, more people getting CS degrees or whatever, you'll see a lot of those perks stripped away, and wages will stagnate or fall (relatively speaking).
- twoodfin 10y agojnordwick's excellent point is that demand can grow without any obvious bound. That has an impact on both ends of the labor market. Sure, people will be willing to work more to acquire the things they want, but that demand itself generates a need for jobs and leverage for labor. Somebody needs to design and manufacture the next iPhone or fancy TV. Somebody else needs to refurbish and maintain that lovely seaside Airbnb for jnordwick's next vacation. This can be a self-reinforcing cycle, and it's how the economic pie can grow even as everyone on the whole takes more.
- Mikeb85 10y agoDemand can't outpace supply forever. It can grow forever, but anything that's lucrative will eventually be sought out, and the price will come down. Labour included. Also, someone will always be willing to undercut others, which is why the arbitrage condition is basically a law of economics, and always leads to a price equilibrium.
- conanbatt 10y agoI agree completely with what you say, which if i understand correctly, is exactly what I said. It was demand from market forces that increased the wages of software engineers, not a union fighting for those perks.