Companies address labor shortages by pursuing current or former prisoners • Hacker News Board

Re: Companies address labor shortages by pursuing current or former prisoners

#81

Post by tastyfreeze » Tue, Aug 03, 2021, 5:43 PM UTC

oscardssmith wrote: post #59

tastyfreeze wrote: post #55

Earlier quoted context omitted.

Why is the popular solution to this problem to increase wages? Shouldn't it be to stop inflating? Inflation is obviously damaging to the livelihood of individuals for the benefit of the State.

Inflation is mainly bad for the rich. About half of Americans have essentially no savings. For them, increased wages and inflation is a massive win.

What? This is wrong on so many levels. Inflation (dilution) is far more damaging to the lower income ranges. Inflation is also the reason that half of Americans don't have savings. What little is earned buys less each year. Since earned dollars buy less the longer they are held people are encouraged to spend quickly. So, inflation makes it harder to save and makes saving ineffective.

Higher income ranges are able to save by purchasing physical assets that can later be sold for inflated dollars. But, inflation is damaging to higher income purchasing power as well. There is just more breathing room in higher income ranges. Middle class becomes lower class unless they can manage to earn more.

Inflation is a loss for all but a few. Everybody becomes more poor through inflation with the exception of people closest to the new money. Those closest to new money get to spend it before prices increase.

Re: Companies address labor shortages by pursuing current or former prisoners

#82

Post by minikites » Tue, Aug 03, 2021, 8:50 PM UTC

tastyfreeze wrote: post #81

oscardssmith wrote: post #59

Earlier quoted context omitted.

Inflation is mainly bad for the rich. About half of Americans have essentially no savings. For them, increased wages and inflation is a massive win.

What? This is wrong on so many levels. Inflation (dilution) is far more damaging to the lower income ranges. Inflation is also the reason that half of Americans don't have savings. What little is earned buys less each year. Since earned dollars buy less the longer they are held people are encouraged to spend quickly. So, inflation makes it harder to save and makes saving ineffective. Higher income ranges are able to…

>Inflation is also the reason that half of Americans don't have savings. What little is earned buys less each year.

Wages grow more than prices rise. It would be a better outcome for lower income ranges.

Re: Companies address labor shortages by pursuing current or former prisoners

#83

Post by mjburgess » Tue, Aug 03, 2021, 8:58 PM UTC

lotsofpulp wrote: post #80

mjburgess wrote: post #63

Earlier quoted context omitted.

How does pay go up? You assume there's an infinite profit margin available for decreasing. Many industries operate at a few percent profit.

Decrease in income/wealth gap. People on the upper rungs of the ladder have to sacrifice.

You realise there are fewer of them?

There's no money there either, after a division.