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My cynical, reactionary and probably incorrect take is that a bunch of people grafted themselves to a successful industry, and got in on the cushy jobs. Tech ha
by nicbou 3y ago
My cynical, reactionary and probably incorrect take is that a bunch of people grafted themselves to a successful industry, and got in on the cushy jobs. Tech had enough money to absorb all these new workers that provided little value. This is how you got things like Chief Happiness Officers and inflated manager count.
Now the economy is contracting and debt is more expensive, so a lot of fat should get trimmed. The tooth-to-tail ratio has to go up again.
However nobody wants to admit that their own job should be cut, so these roles won't just vanish, and these people won't just change careers.
- Kinrany 3y ago> However nobody wants to admit that their own job should be cut, so these roles won't just vanish, and these people won't just change careers. I don't understand this sentence. Jobs are not created by people who want jobs.
- happytiger 3y agoTurns out that it’s actually people who have jobs specifically are the ones who make the jobs (by becoming the customers). https://www.businessinsider.com/rich-people-create-jobs-2013-11 https://www.businessinsider.com/rich-people-create-jobs-2013... I know the idea that you’re trying to infer is more akin to people creating jobs by hiring themselves becoming an inflated workforce being a rather silly idea, but in truth the entire system is just a rather more complicated version of that in many ways. As much as the ultra-rich like to stand on their large contributions to society via their company accomplishment and present themselves as job creators, truth it the vast majority of jobs are created because of middle class demand and in that very real sense we have jobs because we want jobs.
- nicbou 3y agoWhat I mean by that is that people and departments will fight for their survival. No one will admit that their position is useless and should get eliminated. The people that stay might not be the people that are necessary, but the people that can convince others that they are.
- hoseja 3y ago>a lot of fat should get trimmed It won't though, entire limbs will be cut off.
- happytiger 3y agoThe purpose of financial austerity (raising rates by central banks) is (arguably) specifically to damage the labor markets to prevent fiat currency inflation, so when you see large rate increases you can generally expect major unemployment to follow.