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Labor shortage or terrible jobs?
261–270 of 1001 posts
Re: Labor shortage or terrible jobs?
#262If a business can’t pay a living wage, automate the role.
And tax the labour that automation provides
What? No. Automation doesn't need a new tax, it's just capital investment like any other. Tax the proceeds from investment (in automation and everything else) at a rate commensurate with taxes on labor...
Re: Labor shortage or terrible jobs?
#263Earlier quoted context omitted.
> This article unfortunately doesn't address the business side of the problem. Good! I've been hearing about "the business side of the problem" my entire life -- lectured sternly about it, in many cases. All while few of the Adults and Experts - people with Real Power, in other words - dare even mention some of the topics laid out in the link. > I'm just saying that both sides of the equation need to be examined, i.e…
plight: "a dangerous, difficult, or otherwise unfortunate situation." Pretty sure a business can have plight.
It was hyperbolic, yes, but only a little, I think. The point I was making is that we've drunk a lot of koolaid about corporations being legal persons, as having rights, etc., such that no one bats an eye at anthropomorphisms like "the suffering of a company". My claim is that a) those words in that context are anthropomorphisms, metaphors, and b) that I don't think we've had much of a conversation about the koolaid I'm alluding to. (Outside of wealthy educated elites like ourselves, I mean.)
Re: Labor shortage or terrible jobs?
#264This article unfortunately doesn't address the business side of the problem. Fast food restaurants, or place like "Dale's" mentioned in the article, make very little profit. It is most likely below 10%. Here is an estimate: https://www.restaurant365.com/blog/what-is-the-average-profi... . A 10% profit is very modest. That's not the story of the "fat cats getting rich on the back of the workers" that the article is al…
Firms in a competitive market are price takers. None of them individually can raise prices. But an increase of the minimum wage increase affects all of them together, and will cause a new equilibrium at higher prices.
Re: Labor shortage or terrible jobs?
#265This article unfortunately doesn't address the business side of the problem. Fast food restaurants, or place like "Dale's" mentioned in the article, make very little profit. It is most likely below 10%. Here is an estimate: https://www.restaurant365.com/blog/what-is-the-average-profi... . A 10% profit is very modest. That's not the story of the "fat cats getting rich on the back of the workers" that the article is al…
Firms in a competitive market are price takers. None of them individually can raise prices. But an increase of the minimum wage increase affects all of them together, and will cause a new equilibrium at higher prices.
That assumes no substitutes, but in reality this will increase the relative cost of restaurants compared to home cooking which will reduce demand for take out.
Re: Labor shortage or terrible jobs?
#266This article unfortunately doesn't address the business side of the problem. Fast food restaurants, or place like "Dale's" mentioned in the article, make very little profit. It is most likely below 10%. Here is an estimate: https://www.restaurant365.com/blog/what-is-the-average-profi... . A 10% profit is very modest. That's not the story of the "fat cats getting rich on the back of the workers" that the article is al…
> This article unfortunately doesn't address the business side of the problem.
She actually addressees this in the very last paragraph:
> if a business can’t pay a living wage, should it be a business?
Re: Labor shortage or terrible jobs?
#267Earlier quoted context omitted.
> This article unfortunately doesn't address the business side of the problem. Good! I've been hearing about "the business side of the problem" my entire life -- lectured sternly about it, in many cases. All while few of the Adults and Experts - people with Real Power, in other words - dare even mention some of the topics laid out in the link. > I'm just saying that both sides of the equation need to be examined, i.e…
plight: "a dangerous, difficult, or otherwise unfortunate situation." Pretty sure a business can have plight.
Maybe we're getting a little philosophical here, but I don't believe inanimate entities can experience "difficulty" or "misfortune".
Would you say that a rock suffers "misfortune" if it topples off a cliff into the sea? Is it "difficult" for a glacier to maintain its integrity in the face of global warming? Is my car unfortunate to have been scratched in a parking lot? (OK, I do believe that last one, but I'm anthropomorphising my car to talk about my own human misfortune)
Re: Labor shortage or terrible jobs?
#268Earlier quoted context omitted.
> This article unfortunately doesn't address the business side of the problem. Good! I've been hearing about "the business side of the problem" my entire life -- lectured sternly about it, in many cases. All while few of the Adults and Experts - people with Real Power, in other words - dare even mention some of the topics laid out in the link. > I'm just saying that both sides of the equation need to be examined, i.e…
plight: "a dangerous, difficult, or otherwise unfortunate situation." Pretty sure a business can have plight.
Good point, I can think of 1 right away: Toys-R-Us. Miss having them around!
Re: Labor shortage or terrible jobs?
#269This article unfortunately doesn't address the business side of the problem. Fast food restaurants, or place like "Dale's" mentioned in the article, make very little profit. It is most likely below 10%. Here is an estimate: https://www.restaurant365.com/blog/what-is-the-average-profi... . A 10% profit is very modest. That's not the story of the "fat cats getting rich on the back of the workers" that the article is al…
What about franchise fees? Independent fast food restaurants basically don’t exist in the U.S. anymore. An individual McDonalds may be scraping the boundary of profitability, but corporate had a net income of $1.5B last quarter[0], or about $7,500 per employee per quarter [1]. That’s net income, not revenue. [0] https://corporate.mcdonalds.com/content/dam/gwscorp/assets/i... [1] https://www.macrotrends.net/stocks/cha…
Dicks, Burgerville (mostly unionized), Burgermaster, In N Out and other regional chains exist, along with a plethora of single location independent fast food restaurants.
Re: Labor shortage or terrible jobs?
#270Earlier quoted context omitted.
>Unhealthy cheap carbs for a single person... $200/month (chicken, beans, rice, milk, cheese, bread) >Shitphone with basically no internet for a single person... $40/month (who needs internet anyway) >Health insurance because you have two or three shit part-time jobs: $400/mo >Rent for a single person... $1400/month far (+fuel) These are all sunk costs. You need them regardless of whether you have a job or not. You s…
> These are all sunk costs. You need them regardless of whether you have a job or not They're not sunk costs if you literally don't have money to pay for them. > Please respond to the strongest plausible interpretation of what someone says, not a weaker one that's easier to criticize. Assume good faith. Your argument wasn't in good faith. You're saying that minimum wage is a livable wage which is a demonstrably false…
I think a better phrasing of his argument would be "if you take that job, the additional costs will not outweigh the income you get from that job". Put in another way, your net surplus after a month will be more with the job than without, irrespective of whether it is actually positive.