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Any industry “shortage” or “crisis” is only from the perspective of the investment class. It is always a “crisis” when the supply of labor isn’t high enough for
by jdgoesmarching 5y ago
Any industry “shortage” or “crisis” is only from the perspective of the investment class. It is always a “crisis” when the supply of labor isn’t high enough for accountants to name their price, and in this state you will see businesses try to either reduce their own demand (typically via automation or overworking) or increase the supply rather than enter a labor market where they do not have the upper hand.
Overnight you will see huge media campaigns about these shortages, depicted as some national crisis. This will be used to justify government expenses on programs that simultaneously subsidize training costs for businesses while increasing their labor supply.
At least, that’s how it used to work. Now every company I’ve worked for just backfills American jobs with overseas contracts.
- spaetzleesser 5y agoGood observation. It seems most economic policy these days is made from the perspective of the investment class.
- MattGaiser 5y agoYou could say the same about unemployment though. There’s no economic shortage of jobs, just greedy workers who think too highly of themselves.
- EvilEy3 5y agoDoesn't work that way. Greedy is a made up concept to low-ball people.
- gruez 5y agoSo only the "investment class" can be "greedy"? If anything you're proving the parent poster's point, ie. "when market conditions are are in my favor (or against my adversary), it's just supply and demand. when they're not in my favor (or in favor of my adversary), it's a 'shortage' (or whatever sympathy-inducing phrase you can come up with".
- EvilEy3 5y agoYes.