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Presumably these white collar workers are valuable and employeeing them with confiscated money on a useless task is much worse for the economy than both the cou
by wycs 8y ago
Presumably these white collar workers are valuable and employeeing them with confiscated money on a useless task is much worse for the economy than both the counterfactual in which the government does not bid for their labor and the one in which these resources are used to subsidize public goods such as basic science research and merit goods such as public infrastructure.
- mdorazio 8y agoAgain, I'm not convinced that's the case. You're implying that, for example, almost the entirety of the employees at Lockheed, Raytheon, Northrop, General Dynamics, etc. and a good chunk of the employees at companies like Boeing would somehow be redistributed into the broader economy at a similar compensation level. That's upwards of a million white collar workers. You can't magic all those people into the broader economy without serious impacts, and replacing the expenditure on their salaries with expenditure on things like basic research and public infrastructure does not equate to the same economic outcome. I'm pretty sure doing so would further stratify the economy by replacing solid middle class jobs with a few tech and research jobs and a lot of blue collar jobs.
- bluedino 8y agoIt’d help correct inflated housing prices. Think of all the paper pushers with security clearances making $100k+