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It's not goods, it's a labor market. And when supply is out of whack with demand, your bargaining power goes through the floor -- which leads to situations like
by VHRanger 9y ago
It's not goods, it's a labor market. And when supply is out of whack with demand, your bargaining power goes through the floor -- which leads to situations like this.
- 131012 9y agoWhat is really nasty is the fact that there is a huge demand for phd students as they drive research forward. So they deduce there will be demand once they graduate, which is not the case.
- haihaibye 9y agoElastic demand for labor - people want more when it's cheap, as much as they can get when it's free (or the government pays you for each student)