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Cheat sheet for humanities master's degree holders: microecon 101 suggests that anyone offering to pay a substantial premium to the market clearing price for X
by patio11 14y ago
Cheat sheet for humanities master's degree holders: microecon 101 suggests that anyone offering to pay a substantial premium to the market clearing price for X will be offered lots of X.
- chubs 14y agoYou saying that he simply put too high a payrate on his fake ad and that's why the glut of responses?
- robryan 14y agoInteresting that this high rate of payment is much lower than the Australia minimum wage in USD. I guess the purchasing power in America might be a little higher but still sounds like a pretty sad state of affairs.
- greenranger 14y agoI was thinking the same thing. I'm in Canada and I haven't made twelve bucks an hour since I was a pimple faced high schooler. If you advertised a wage like that here, you would be literally scraping the bottom of the labour barrel.
- yummyfajitas 14y agoAustralia is 65% more expensive than the US. https://en.wikipedia.org/wiki/Purchasing_power_parity#OECD_comparative_price_levels https://en.wikipedia.org/wiki/Purchasing_power_parity#OECD_c...
- robryan 14y agoProbably due in part to some of the crazy markups Australians were/ are accustomed to paying at retail. Although this is changing as people become more comfortable with online buying.
- patio11 14y agoHe is getting many responses because he is offering approximately $4,000 (delivered half in taxable cash and half in untaxable benefits) in return for a thing whose market price is closer to $1,500 (delivered all in taxable cash). He should be offered the product he wishes to buy at any quantity which he wishes to purchase. (The product is "The full-time labor of any literate person legally capable of work in Midtown, NYC.")
- lrobb 14y ago12per hour with benefits is right in line with what payscale reports as the average for admin assistants in Manhattan. Which is just slightly more than average pay for baristas.
- yummyfajitas 14y agoChipotle pays $10/hour in NYC. $12-13 for a secretary is not that high.
- FreakLegion 14y agoI'm trying to connect the dots here without much luck. What's the unstated link between the second bit and the first bit?
- lrobb 14y agoAnother cheat sheet suggests that wages are downwardly sticky, and that an oversupply of X will also result in a lot of X being offered.