More evidence that the gig economy is actually making people poorer

[luisHK]

Of course, we want to make sure we are doing the right thing, at which point we have to fall on statistics as well as data.

Since you seem coyly neutral, how would you address a growing population where the growth of automation and globalization may exceed the pace of retraining the workforce? Where labor demand drops to levels where a market wage is incompatible with the cost of living?

It's quite easy to make a decent living, to begin with those who made such poor decision that they can't even deal with their cost of living could have all voting rights withdrawn, i don't see how they should extend their failed vision of life to the way society is managed, which is unfortunately happening.
But deeply I don't really care how society will deal with those issues, will just keep on moving to places looking less ominous than others when needed, societies where guys like Piketty thrive looking particulary ominous and disfunctioning at the moment.

 

[pyradius]

I don't change the rules of the game just because I am losing.

https://www.progress.org/articles/how-land-barons-industrialists-and-bankers-corrupted-economics

https://www.progress.org/articles/the-powerful-opponents-to-geonomics-throughout-history

While we're at it, Piketty made a mistake in conflating land and capital

http://earthsharing.org/capital-in-any-century-a-response-to-thomas-piketty/

 

[Kevin Schmit]

While we're at it, Piketty made a mistake in conflating land and capital

http://earthsharing.org/capital-in-any-century-a-response-to-thomas-piketty/

Are you seriously citing this article?

I stopped reading at "Augustus Spengler." Author is an ignoramus as well as apparently a Georgian crank.

 

[pyradius]

Oh I am quite serious, yes. Did you have an actual point to make, beyond your limited attention span?

 

[java]

You provoked this dispute between us and now you're refusing to talk. Great job, man, you can be proud of yourself.

My market closed at 14:20 on Friday and just reopened at 20:00 Sunday, I only post when I am waiting to get filled.

 

[Zzzz1]

Wrong. Lack of opportunities makes people poorer.

Income inequality makes people poorer.

 

[CyJackX]

Wrong. Lack of opportunities makes people poorer.

Porque no los dos?
They need not be mutually exclusive nor subject to a chicken and egg paradox.

 

[Zzzz1]

I stand by my claim. Why would income inequality make people poorer? Income inequality is nothing but a reflection of pay and income differentials. We already experienced for 50 years that forced income equality leads to nothing but unproductivity.

Porque no los dos?
They need not be mutually exclusive nor subject to a chicken and egg paradox.

 

[CyJackX]

I stand by my claim. Why would income inequality make people poorer? Income inequality is nothing but a reflection of pay and income differentials. We already experienced for 50 years that forced income equality leads to nothing but unproductivity.

Unclear to me what exactly you mean by forced income equality. Min. wage or unions?

Income inequality begets further income inequality, because it leads to the lower classes under-consuming, which leads to smaller profits, which leads to less jobs/opportunities, which leads to the lower classes under-consuming...

 

[sle]

who benefit from an economy with less income inequality.

Benefits of the higher income equality are mostly social, not economical. It's unclear that a society with some sort of income redistribution is going to be better off economically in the short term. In the long term, the value of human capital coming from the lower income strata could benefit the society. Also, to quote my friend, a bona-fide billionaire, "Income inequality will eventually lead to stratification and exclusive groups suck in the long run. Look at the royalty in Europe - if you keep fucking around the same tiny gene pool, nothing good will come out of it"

any body can become a CEO or a 1 percenters if they chose to

I hate to tell you, but that's a myth. My former boss, RIP, once said a long drunken rant about a persons trajectory in life. It's is akin an expected value of a stock at time T, he said. There is a spot price (i.e. what you are you born with, money, family etc), the forward drift expectation (two variables there, the quality of the society and your personal hard work) and then there is volatility around those variables (which we commonly know as luck). If you are born into riches (high spot), it does not take too much work to keep afloat. If you are born into rags (low spot), no amount of work will get you to proper riches without a stroke of good luck.