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On the Market for Programmers

3 points by barry-cotter 4y ago

dredmorbius 4y ago
Programmers are lemons. See Akerlof: https://personal.utdallas.edu/~nina.baranchuk/Fin7310/papers/Akerlof1970.pdf https://personal.utdallas.edu/~nina.baranchuk/Fin7310/papers... (PDF) (LibGen: https://libgen.rs/scimag/10.2307%2F1879431 https://libgen.rs/scimag/10.2307%2F1879431) Discussion: https://policonomics.com/the-market-for-lemons/ https://policonomics.com/the-market-for-lemons/ Wikipedia: https://en.wikipedia.org/wiki/The_Market_for_Lemons https://en.wikipedia.org/wiki/The_Market_for_Lemons Dan Luu's take, "Developer hiring and the market for lemons" (2016) http://danluu.com/hiring-lemons/ http://danluu.com/hiring-lemons/ Discussed in 2016 (378 comments) https://news.ycombinator.com/item?id=12671290 https://news.ycombinator.com/item?id=12671290 and 2018 (119 comments) https://news.ycombinator.com/item?id=16833853 https://news.ycombinator.com/item?id=16833853 Numerous other takes on "market for lemons" w/in HN: https://hn.algolia.com/?q=market%20for%20lemons https://hn.algolia.com/?q=market%20for%20lemons In my view, understanding the Market for Lemons dynamic, and Adam Smith's five factors determining wage compensation are the most useful economic tools an IC knowledge worker can have. Smith: The five following are the principal circumstances which, so far as I have been able to observe, make up for a small pecuniary gain in some employments, and counter-balance a great one in others: first, the agreeableness or disagreeableness of the employments themselves; secondly, the easiness and cheapness, or the difficulty and expense of learning them; thirdly, the constancy or inconstancy of employment in them; fourthly, the small or great trust which must be reposed in those who exercise them; and fifthly, the probability or improbability of success in them. https://en.wikisource.org/wiki/The_Wealth_of_Nations/Book_I/Chapter_10 https://en.wikisource.org/wiki/The_Wealth_of_Nations/Book_I/...

3 points by barry-cotter 4y ago

Programmers are lemons. See Akerlof: https://personal.utdallas.edu/~nina.baranchuk/Fin7310/papers/Akerlof1970.pdf https://personal.utdallas.edu/~nina.baranchuk/Fin7310/papers... (PDF) (LibGen: https://libgen.rs/scimag/10.2307%2F1879431 https://libgen.rs/scimag/10.2307%2F1879431) Discussion: https://policonomics.com/the-market-for-lemons/ https://policonomics.com/the-market-for-lemons/ Wikipedia: https://en.wikipedia.org/wiki/The_Market_for_Lemons https://en.wikipedia.org/wiki/The_Market_for_Lemons Dan Luu's take, "Developer hiring and the market for lemons" (2016) http://danluu.com/hiring-lemons/ http://danluu.com/hiring-lemons/ Discussed in 2016 (378 comments) https://news.ycombinator.com/item?id=12671290 https://news.ycombinator.com/item?id=12671290 and 2018 (119 comments) https://news.ycombinator.com/item?id=16833853 https://news.ycombinator.com/item?id=16833853 Numerous other takes on "market for lemons" w/in HN: https://hn.algolia.com/?q=market%20for%20lemons https://hn.algolia.com/?q=market%20for%20lemons In my view, understanding the Market for Lemons dynamic, and Adam Smith's five factors determining wage compensation are the most useful economic tools an IC knowledge worker can have. Smith: The five following are the principal circumstances which, so far as I have been able to observe, make up for a small pecuniary gain in some employments, and counter-balance a great one in others: first, the agreeableness or disagreeableness of the employments themselves; secondly, the easiness and cheapness, or the difficulty and expense of learning them; thirdly, the constancy or inconstancy of employment in them; fourthly, the small or great trust which must be reposed in those who exercise them; and fifthly, the probability or improbability of success in them. https://en.wikisource.org/wiki/The_Wealth_of_Nations/Book_I/Chapter_10 https://en.wikisource.org/wiki/The_Wealth_of_Nations/Book_I/...