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I depends. Increasing wages might mean people work less hours, because they don't need overtime to pay the bills. And you won't see a lot of experienced applica
by wisty 15y ago
I depends. Increasing wages might mean people work less hours, because they don't need overtime to pay the bills. And you won't see a lot of experienced applicants appear overnight, unless you can tempt retirees or career switchers back.
If doctors who realise they can work 9-5, and have lots of holidays, and still have a great standard of living, why should they work longer hours? It does actually happen.
Of coures the mainstream economic explanation is that if this was predictable, students will have been driven into courses before the shortage occurred (it's called "rational behavior", or "the assumption that everyone is smarter than an economist").
- gbog 15y agoSomeone above questioned shortage, but nobody seem to question the Want more money part. And here you come up with " a great standard of living, " but really I think people with much less may have a greater life, even if they have no car and no washing machines.
- wisty 15y agoMore money is generally better (up to a saturation point of about $100k a year). But if you are time poor, and cash rich, the choice should be easy. Obviously, some people just like work, and money. Marx was right - people can accumulate cash simply for the sake of accumulating cash (or the security it brings), not just for pure consumption.