4 ms·
It's a market but not that great of a market. No transparent price discovery. Huge market manipulation by the big guys making deals with each other to suppress
by mempko 3y ago
It's a market but not that great of a market. No transparent price discovery. Huge market manipulation by the big guys making deals with each other to suppress wages (https://www.washingtonpost.com/news/the-switch/wp/2014/04/23/what-the-apple-wage-collusion-case-says-about-silicon-valleys-labor-economy/ https://www.washingtonpost.com/news/the-switch/wp/2014/04/23...)
Yes, wages are high relative to other industries but the large tech companies are immensely profitable. Wages can be even higher without market manipulation.
So yes, it's a market but a really really bad one in ways we value markets to be good.