3 ms·

Or you know, instead of crying about change like you are. Existing employees finally cracked. The STM part of STEM has been seriously underpaid and meager livin

Or you know, instead of crying about change like you are. Existing employees finally cracked. The STM part of STEM has been seriously underpaid and meager living for years. All of that is coming home to roost with inflation and cost of living spiraling out of control.

FredPret 3y ago
Underpayment would lead to less inflation if anything.
- deleted 3y ago
  [deleted]
- MaKey 3y ago
  [citation needed] Inflation might not be driven by wages but by company profits: https://www.theguardian.com/business/2023/feb/24/an-economic-fairytale-australias-inflation-being-driven-by-company-profits-and-not-wages-analysis-finds https://www.theguardian.com/business/2023/feb/24/an-economic...
  - nightski 3y ago
    Where do you think company profits come from if not from customers?
    - avgcorrection 3y ago
      Some central banks take measures in order to reduce the spending of consumers in order to calm down inflation. Which means less money for customers. So maybe it makes sense?
  - FredPret 3y ago
    You know your own logic can beat that of others right? Citations are just links to places where other people wrote down their logic and aren't magic fairy dust that'll make an argument true. People geting paid more is inflationary. People producing more output is deflationary. We need lots of both. Company profits come from things being produced and then bought. So when profits are paid out to owners and employees as salaries, dividends, and other mechanisms, it gets filed under "people getting paid". Now my main point is that if S, T and M have been underpaid vs their true output, they should get more.
gowings97 3y ago
"The STM part of STEM has been seriously underpaid and meager living for years." Based on what?
foooorsyth 3y ago
The E part of STEM is typically the commercial application of STM, so why would that be a surprise? This is the nature of research: most efforts will be pretty useless, and even the useful ones will need significant additional focus, effort, investment, and labor to create a viable commercial product.
- rfrey 3y ago
  The assumption that only commercialization efforts are deserving of rewards, and the labour to discover and make viable the things that are being sold are not deserving of rewards, is one that needs reflection.

FredPret 3y ago

Underpayment would lead to less inflation if anything.

deleted 3y ago
[deleted]
MaKey 3y ago
[citation needed] Inflation might not be driven by wages but by company profits: https://www.theguardian.com/business/2023/feb/24/an-economic-fairytale-australias-inflation-being-driven-by-company-profits-and-not-wages-analysis-finds https://www.theguardian.com/business/2023/feb/24/an-economic...
- nightski 3y ago
  Where do you think company profits come from if not from customers?
  - avgcorrection 3y ago
    Some central banks take measures in order to reduce the spending of consumers in order to calm down inflation. Which means less money for customers. So maybe it makes sense?
- FredPret 3y ago
  You know your own logic can beat that of others right? Citations are just links to places where other people wrote down their logic and aren't magic fairy dust that'll make an argument true. People geting paid more is inflationary. People producing more output is deflationary. We need lots of both. Company profits come from things being produced and then bought. So when profits are paid out to owners and employees as salaries, dividends, and other mechanisms, it gets filed under "people getting paid". Now my main point is that if S, T and M have been underpaid vs their true output, they should get more.

gowings97 3y ago

"The STM part of STEM has been seriously underpaid and meager living for years." Based on what?

foooorsyth 3y ago

The E part of STEM is typically the commercial application of STM, so why would that be a surprise? This is the nature of research: most efforts will be pretty useless, and even the useful ones will need significant additional focus, effort, investment, and labor to create a viable commercial product.

rfrey 3y ago
The assumption that only commercialization efforts are deserving of rewards, and the labour to discover and make viable the things that are being sold are not deserving of rewards, is one that needs reflection.