It definitely feels like many companies have simply given up trying to do anything new. I mean look at the blowback against renewables that happened this election cycle, possibly killing the IRA. Why take risks when you’re making a ton of money just keeping the lights on?
Job growth has slowed sharply; the question is why
31–40 of 112 posts
Re: Job growth has slowed sharply; the question is why
#32Increasing wealth inequality, drives prices inflation, wage stagnation and less disposable income, driving less consumption, driving less revenue for businesses, meaning cuts happen and hiring freezes, drives slowing growth in new job market.
I think you've got your cause/effect chain a little muddled. I would also assert that the system dynamics are neither linear nor singular in the way you frame it. > Increasing wealth inequality, drives prices inflation How does increasing wealth inequality drive price increases?
> How does increasing wealth inequality drive price increases?
i'm not the person you asked, and i'm just spit-balling, but here's a way: wealth inequality means there's a group that has substantially more wealth than normal, let's call that group A, and the complimentary group of people who don't have substantially more wealth than normal, let's call them B. A's wealth ultimately comes from B-- you know, you got workers who make you more money than you pay them, you extract rent from them, they buy your stuff.
past a certain point of inequality, A controls so much wealth that they could exert power over the market to squeeze B even more-- wages lag further behind productivity, rents go up, goods cost more. this is inflation, yeah?
Re: Job growth has slowed sharply; the question is why
#33I have been enjoying Paul Krugman's writing, now that he's free from the shackles of the New York "both sides!" Times https://paulkrugman.substack.com/p/its-beginning-to-smell-a-... He's obviously got a political angle, but doesn't let that completely color his economic analysis.
Economics is political.
Politics and economics are two different lenses on the same subject matter, because “wealth” and “power over others” are two different ways of saying the same thing.
This is also why capitalism and democracy become progressively more clearly opposed the farther the status quo environment you are working in gets from feudalism or absolute monarchy, under which both seem to be changes in the same direction.
Re: Job growth has slowed sharply; the question is why
#34>Currently, the data suggest that reduced labor supply is likely the key driver It's interesting as far as people I know looking for jobs, they're supply ... and having a hard time finding jobs. Reduced supply you'd hope you'd get a job. Granted the article addresses this both in the types of jobs and: >The stability of the unemployment rate masks effects of the low-hiring, low-firing labor market. I do wonder, if th…
Reduced demand in tech due to constraints of capital, and increased demand in agricultural and low wage jobs where immigrant labor was significant. But funny enough, we can't just ship 100k software developers from the bay to the central valley and it just work.
> just ship 100k software developers from the bay to the central valley and it just work
But you could pitch a startup idea to replace those workers with agricultural robotics and collect some of that sweet AI venture capital!
Re: Job growth has slowed sharply; the question is why
#35Earlier quoted context omitted.
I think you've got your cause/effect chain a little muddled. I would also assert that the system dynamics are neither linear nor singular in the way you frame it. > Increasing wealth inequality, drives prices inflation How does increasing wealth inequality drive price increases?
> How does increasing wealth inequality drive price increases? When poor people receive money, they tend to put it to circulate in the economy, by spending it. When super-rich people receive money, it goes mostly to tax havens, removing it from circulation. Business lose scale, as there is less consumers, raising unitary prices.
Doesn't the lack of liquidity in an economy cause deflationary behavior?
Re: Job growth has slowed sharply; the question is why
#36Earlier quoted context omitted.
Reduced demand in tech due to constraints of capital, and increased demand in agricultural and low wage jobs where immigrant labor was significant. But funny enough, we can't just ship 100k software developers from the bay to the central valley and it just work.
That’s basically the plot of Stardew Valley. Programmers yearn for the fields.
I don't think Stardew Valley prepares you for the sweltering heat of performing manual labor in the Central Valley.
Re: Job growth has slowed sharply; the question is why
#37I have been enjoying Paul Krugman's writing, now that he's free from the shackles of the New York "both sides!" Times https://paulkrugman.substack.com/p/its-beginning-to-smell-a-... He's obviously got a political angle, but doesn't let that completely color his economic analysis.
New York “both sides” Times? There are only a few papers less suited for that monicker.
The fact that he left the NYT because it wasn't letting him be partisan enough cracked me up so hard.
Re: Job growth has slowed sharply; the question is why
#38This is about 2/3 the way through the article:
"The employment statistics are broadly consistent with the reduction in immigrant labor supply. Job growth has slowed more this year in industries that have a higher fraction of unauthorized immigrants like construction and restaurants, according to analysis by Jed Kolko at the Petersen Institute."
...I feel like the article answers its own question pretty well. I guess the headline is there for SEO/"engagement".
Re: Job growth has slowed sharply; the question is why
#39Earlier quoted context omitted.
> How does increasing wealth inequality drive price increases? When poor people receive money, they tend to put it to circulate in the economy, by spending it. When super-rich people receive money, it goes mostly to tax havens, removing it from circulation. Business lose scale, as there is less consumers, raising unitary prices.
Doesn't the lack of liquidity in an economy cause deflationary behavior?
Short term, maybe, as you still have excess production capacity. Long term excess capacity get dismantled, business go bankrupt, scale is lost.
Re: Job growth has slowed sharply; the question is why
#40>Currently, the data suggest that reduced labor supply is likely the key driver It's interesting as far as people I know looking for jobs, they're supply ... and having a hard time finding jobs. Reduced supply you'd hope you'd get a job. Granted the article addresses this both in the types of jobs and: >The stability of the unemployment rate masks effects of the low-hiring, low-firing labor market. I do wonder, if th…
Reduced demand in tech due to constraints of capital, and increased demand in agricultural and low wage jobs where immigrant labor was significant. But funny enough, we can't just ship 100k software developers from the bay to the central valley and it just work.
>Reduced demand in tech due to constraints of capital
That's it, really. All the "hiring" money is being spent on building data centers, at least in the US tech field. Better hope AGI is really around the corner, or that's a lot of money chasing nothing that could have been put to productive use.