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The money has slowly been taken out of everything. It's a deliberate program. When a new market opens up, like say the internet in the 90s, then the investors

The money has slowly been taken out of everything. It's a deliberate program. When a new market opens up, like say the internet in the 90s, then the investors and the people in charge will allow some of us to be overpaid for a while. It's really not out of the goodness of their heart's. At that point they are focusing on market capture, and they need bodies to help them do that. Eventually they find a way to make that market 'efficient' (read bad for everyone employed in it) and unless a new market opens up, it can be really bad for workers. I can't think of a significant new market that's been opened up since the app bubble of 2010 or so.

supertrope 7y ago
Irrational exuberance. Corporate management labeling a department or activity a "cost center" if it doesn't result in revenue or directly supports revenue generating functions.
0xDEFC0DE 7y ago
Space and re-usable rockets, although that's not really your average consumer market. Electric cars are mainstream too and that's new. Solar/renewables were old but efficiencies and markets of scale (?) made it more mainstream. We have a pretty long way to go before the computing market is efficient though (bonus: it'll probably be tied to the actual computational efficiency of computers at some point because the markets will all be traded by computers).
aaronblohowiak 7y ago
Efficiency is a “bad deal” in a place with a very low floor of benefits / lifestyle. In economies with very high minimums, efficiency is not too bad! Would you prefer a dynamic market with winners and losers or a stable market that’s kinda ok for a lot of people? This trade off seems pretty easy but over long periods of time the stable market starts to look like a stagnant market that may not allow new entrants to new industries, creating a permanent lagging behind the dynamic/higher-outcome-variance market. So you want some turmoil / “creative destruction”. This is why imho barriers to firing people is bad. I’d rather have the gov’t be the social safety net than the employer.
- gerbilly 7y ago
  These are all theoretical benefits, if you can't afford a decent place to live and feel like you have to delay having kids till 38.

supertrope 7y ago

Irrational exuberance. Corporate management labeling a department or activity a "cost center" if it doesn't result in revenue or directly supports revenue generating functions.

0xDEFC0DE 7y ago

Space and re-usable rockets, although that's not really your average consumer market. Electric cars are mainstream too and that's new. Solar/renewables were old but efficiencies and markets of scale (?) made it more mainstream. We have a pretty long way to go before the computing market is efficient though (bonus: it'll probably be tied to the actual computational efficiency of computers at some point because the markets will all be traded by computers).

aaronblohowiak 7y ago

Efficiency is a “bad deal” in a place with a very low floor of benefits / lifestyle. In economies with very high minimums, efficiency is not too bad! Would you prefer a dynamic market with winners and losers or a stable market that’s kinda ok for a lot of people? This trade off seems pretty easy but over long periods of time the stable market starts to look like a stagnant market that may not allow new entrants to new industries, creating a permanent lagging behind the dynamic/higher-outcome-variance market. So you want some turmoil / “creative destruction”. This is why imho barriers to firing people is bad. I’d rather have the gov’t be the social safety net than the employer.

gerbilly 7y ago
These are all theoretical benefits, if you can't afford a decent place to live and feel like you have to delay having kids till 38.