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That's really the crux of it. We can pay the smartest people in the world to work here, or we can pay them to work elsewhere. If they work here, we get the ex
by jbooth 15y ago
That's really the crux of it.
We can pay the smartest people in the world to work here, or we can pay them to work elsewhere. If they work here, we get the externalities. Hence, no-brainer.
- jellicle 15y agoThe externalities of adding more workers to an economy at less than full capacity are negative. The public gets to support the $80K native who just got laid off, and the extra corporate profits are shipped off to an overseas subsidiary and the CEO's annual bonus, never to be seen again.
- jbooth 15y agoThe economy isn't just a single lump. There's a severe shortage of competent technical talent that we're all familiar with. If someone expects to make 80k and they haven't updated their skills since the 90s, yeah they're gonna get laid off to make room for someone who can hack it. There's still a need for that someone. Artificial scarcity isn't a good thing for the industry.