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The market alone doesn’t work well with things like training that had feedback loops of several years. In German there is the term “Schweinezyklus”. It goes lik
by vjvjvjvjghv 1y ago
The market alone doesn’t work well with things like training that had feedback loops of several years. In German there is the term “Schweinezyklus”. It goes like this:
* companies complain about lack of trained workers
* more people start training
* after a few years companies complain about too many workers and don’t hire them
* people stop training
* companies complain about lack of trained workers
I was part of this in the 90s in mechanical engineering. When I started studying the job market was great. When I finished there were no jobs. Luckily I could jump to programming.
I think we are seeing the same with CS now. Too many people jumped into it.
- Ajedi32 1y agoPredicting the future is indeed famously difficult, which is why even markets have a hard time with forecasting and responding to demand years into the future. I don't think such over corrections are a market failure, just a lack of omniscience.