3 ms·
I think that's overextending the parent's point. Labor can certainly come out ahead. Market crashed (or at least tech did), and will likely continue to do so.
by trgn 4y ago
I think that's overextending the parent's point.
Labor can certainly come out ahead. Market crashed (or at least tech did), and will likely continue to do so. If you're a rentier now, it doesn't mean you'll end up in the poor house, but you're certainly getting clobbered versus the sharp income increases skilled labor is seeing today.
I think you'll see this inversion very concretely at the edges; the FIRE-crowd holding on to their jobs for longer would be an example (many of those find them starting from scratch now). Or those evil "capital owners", basically any 60+ white collar employee trying to retire now, they're terrified and will be holding on.
Sometimes people get what they want; labor market is completely hot, and capital is down the drain. Seeing very little rejoicing though.