There isn't enough good jobs for everybody today (why wages are so low)

[WizardofSoda]

Neets and single welfare moms are the wave of the future. What happens when a Neet somehow overcomes his mental or physical problems and is able to work full time and gets a good job. Then some other guy doesn't get a good job. Is that other guy unemployed then. He might be, or he might end up working some low paid job, or marginal job that is temporary or otherwise insecure.

Is technology and science going to go backwards and we get less efficient at production so more jobs? No, at least in free market places the market keeps getting more efficient. Through industrial capital buildup, processes, machinery, robotics, computers, software, communications technologies and coming AI.

 

[Copexodius Maximus]

Supply and demand.

The supply of workers is ever increasing due to immigration (muh worker shortage), but the supply of jobs is not (due to competition crushing regulations via lobbying). Labour unions are also on the decline, and inflation slowly takes away the value of your labour year after year.

 

[WizardofSoda]

Supply and demand.

The supply of workers is ever increasing due to immigration (muh worker shortage), but the supply of jobs is not (due to competition crushing regulations via lobbying). Labour unions are also on the decline, and inflation slowly takes away the value of your labour year after year.

Ya the rulers have some issues. For example without immigration there would be shortages in some low paying jobs, because they are so stupidly low paying its not even worth it for people to work there. The market would solve that by increasing the wages until the businesses were staffed. And raise their prices to reflect the higher wage costs. But then that would be inflation.

Which I have argued in the US we should let inflation go at ~5% for the next 5 years at least through heavy duty printing. Let the price of things come up, and have higher interest rates which will reduce the value of capital. And especially the value of capital relative to the cost of things and wages.

The competition crushing regulations is a whole another huge problem that goes into reducing the jobs in the labor market and opportunity to make money in small business. In the US we are the best in the world at having free markets, so we are less hit by this than say in Europe, but still we feel it.

 

[Copexodius Maximus]

Ya the rulers have some issues. For example without immigration there would be shortages in some low paying jobs, because they are so stupidly low paying its not even worth it for people to work there. The market would solve that by increasing the wages until the businesses were staffed. And raise their prices to reflect the higher wage costs. But then that would be inflation.

Hilarious how that is inflation, but goods costing more and more every year from mass printing money is a-okay. Strange how profits are never seen as inflationary.

Which I have argued in the US we should let inflation go at ~5% for the next 5 years at least through heavy duty printing. Let the price of things come up, and have higher interest rates which will reduce the value of capital. And especially the value of capital relative to the cost of things and wages.

Real inflation comes from measuring the cost of goods, not just the price of labour. That’s how the consumer price index measures it (although it has its own problems as well).

The competition crushing regulations is a whole another huge problem that goes into reducing the jobs in the labor market and opportunity to make money in small business. In the US we are the best in the world at having free markets, so we are less hit by this than say in Europe, but still we feel it.

That’s not even true.

The Heritage Foundation

Since our founding in 1973, The Heritage Foundation has been working to advance the principles of free enterprise, limited government, individual freedom, traditional American values, and a strong national defense.

www.heritage.org

The US ranks 25th in economic freedom. Far behind many European countries, and even Canada jfl.

 

[WizardofSoda]

A key for this thread is people can only spend the money they get. Whether that income comes from government payments, job income, business profits, interest on bonds or whatever else. Say the number of good jobs are going down, and the government tries the German plan of austerity so cuts spending.. well then people get less money, therefore they have less money to spend. Normies rage at me online when I bring this up, but its just basic logic(which is why they rage at me).

Ironically a power the people have is simply if they don't get money, then they can't spend it. If people don't have money to spend then there is no tax revenue, no interest income, no rents, no business profits.

That is why the government printing and money train isn't going to stop. Instead it must keep expanding as production rises and peoples labor income falls.

 

[cheater]

True, Go neet