31–40 of 103 posts
The most meaningful American employment stat should be employed Americans with health insurance. What's the point of being considered 'employed' if you can be wiped out with one trip to the ER?
This is such a myopic perspective. You're not completely wrong about the risk, but there's no good reason health insurance should be so tied to employment.
The most meaningful American employment stat should be employed Americans with health insurance. What's the point of being considered 'employed' if you can be wiped out with one trip to the ER?
Earlier quoted context omitted.
That’s just one facet. It’s not just the gig economy is “full”, all economies are “full”. There are not enough jobs for the employable people.
I saw a statistic that roughly 10% of the US workforce is in some form of "customer-facing service" role and I just have to wonder how many of those jobs are nearly gone, or already gone. Even if it's a 5% reduction, or 3% over the next decade, that seems catastrophic without a completely new category of jobs to replace them. I haven't talked to a cashier at a grocery store in years. It's all self-checkout. I stayed…
Also, unless job automation is tied to some kind of UBI or Freedom Dividend or whatever, we're facing a dystopian future with a starving underclass. Automation is supposed to free us from drudgery and open up more fulfilling work and leisure, not siphon wealth to the capital class. What jobs are people supposed to move to?
Earlier quoted context omitted.
The capital-owning class is society. Don't you have a 401(k)?
As usual, size matters. Equating typical 401(k)s with the economic activity of the class GP is referring to is... absurd. But pretending small-time participation in public markets is the same as billionaire participation in private markets is a great way to convince the lower classes our financial system isn't structured to move wealth away from them.
Gross job creation & destruction annually is roughly 10–12 percent of all jobs (new positions added and permanently lost across all employers).
This is down from the past, when it was 15-18 percent.
Source: US Census Bureau Data https://ycharts.com/indicators/us_job_destruction_rate
The most meaningful American employment stat should be employed Americans with health insurance. What's the point of being considered 'employed' if you can be wiped out with one trip to the ER?
This is such a myopic perspective. You're not completely wrong about the risk, but there's no good reason health insurance should be so tied to employment.
Earlier quoted context omitted.
> I wish we'd pump the brakes on efficiency and profit. This is not legal, executives of publicly traded companies are required to put maximizing shareholder value above all other considerations.
That’s not true. Theoretical maximum shareholder value would be achieved by firing all employees and selling the company for scraps, yet we don’t see that happening. Fiduciary duty doesn’t mean you are required to squeeze profits above all else.
However, some PE firms have been successfully doing similar practices.
Earlier quoted context omitted.
Those who are still employed by my local grocery store don't seem too motivated to do their jobs. It's an unfortunate but foreseeable scenario that expedites the problem where people prefer self-checkout. I wish we'd pump the brakes on efficiency and profit.
> I wish we'd pump the brakes on efficiency and profit. This is not legal, executives of publicly traded companies are required to put maximizing shareholder value above all other considerations.
The article talks about how the Fed chair thinks we might be overestimating jobs and with the number of people I know who are currently struggling to find jobs I would believe that (not engineers, just people that had random jobs). Lots of people I know are out of work right now.
Earlier quoted context omitted.
I saw a statistic that roughly 10% of the US workforce is in some form of "customer-facing service" role and I just have to wonder how many of those jobs are nearly gone, or already gone. Even if it's a 5% reduction, or 3% over the next decade, that seems catastrophic without a completely new category of jobs to replace them. I haven't talked to a cashier at a grocery store in years. It's all self-checkout. I stayed…
I go to a cashier lane whenever possible because shakes fist at cloud no one's paying me to ring up and bag my groceries. Also, unless job automation is tied to some kind of UBI or Freedom Dividend or whatever, we're facing a dystopian future with a starving underclass. Automation is supposed to free us from drudgery and open up more fulfilling work and leisure, not siphon wealth to the capital class. What jobs are p…
The most successful model in history is the "capital class" creating new middle class jobs by venturing their capital.