5 ms·

"The collapse of international mobility and therefore immmigration is a key factor behind wages growth acceleration in advanced economies."

throwvirtever 5y ago
That is the full text of the tweet. I don't see any support for that assertion anywhere though.
- h2odragon 5y ago
  I think its implicitly an argument from authority, the twitter poster is a "somebody"
  - dqv 5y ago
    Earlier on Twitter, there was an account called SoDamnTrue that would just tweet pop-wisdom. It's a SoDamnTrue tweet for economists.
- deleted 5y ago
  [deleted]
- btilly 5y ago
  The claim fits with supply-demand curves. If you're missing 2 million people who would happily take low wage jobs, and there are as many of those jobs to do, the price paid for that work has to go up. That said, I suspect that the great resignation has a whole lot of impact as well. Again, reduced supply causing an increased price. (The ones who walk away from bad jobs into good ones not being as impactful as the ones who took early retirement post-COVID, accelerating a worrisome demographic trend of having lots of old people and few working age people.)
  - fallingfrog 5y ago
    Just because a claim appears plausible on casual observation doesn’t make it true. You have to do better than that. Another plausible explanation is that the boomers are aging out of the workforce, and the following generations are smaller.
    - btilly 5y ago
      Did you read the last paragraph of my response?? Seriously, that was the entire point of what I said there. That there is another factor which I suspect is even bigger.
    - sieabahlpark 5y ago
      That would imply a worker shortage that would have been augmented with immigration. Do you realize in your own argument you prove the validity of the claim?
- kelseyfrog 5y ago
  The tweet is a specific case of the general idea that "Market inefficiencies result in price-value disparities." If you believe this, the tweet naturally follows. The author assumes the audience already believes this.

throwvirtever 5y ago

That is the full text of the tweet. I don't see any support for that assertion anywhere though.

h2odragon 5y ago
I think its implicitly an argument from authority, the twitter poster is a "somebody"
- dqv 5y ago
  Earlier on Twitter, there was an account called SoDamnTrue that would just tweet pop-wisdom. It's a SoDamnTrue tweet for economists.
deleted 5y ago
[deleted]
btilly 5y ago
The claim fits with supply-demand curves. If you're missing 2 million people who would happily take low wage jobs, and there are as many of those jobs to do, the price paid for that work has to go up. That said, I suspect that the great resignation has a whole lot of impact as well. Again, reduced supply causing an increased price. (The ones who walk away from bad jobs into good ones not being as impactful as the ones who took early retirement post-COVID, accelerating a worrisome demographic trend of having lots of old people and few working age people.)
- fallingfrog 5y ago
  Just because a claim appears plausible on casual observation doesn’t make it true. You have to do better than that. Another plausible explanation is that the boomers are aging out of the workforce, and the following generations are smaller.
  - btilly 5y ago
    Did you read the last paragraph of my response?? Seriously, that was the entire point of what I said there. That there is another factor which I suspect is even bigger.
  - sieabahlpark 5y ago
    That would imply a worker shortage that would have been augmented with immigration. Do you realize in your own argument you prove the validity of the claim?
kelseyfrog 5y ago
The tweet is a specific case of the general idea that "Market inefficiencies result in price-value disparities." If you believe this, the tweet naturally follows. The author assumes the audience already believes this.