Re: For those all in on $15 min wage and free tuition

SInce we know that ignoring Econ101 on wages in respect to supply and demand will not work out well in the end for those due to be replaced by robotics,computers and IT I have a question.Nor for the many small business owners that will struggle to remain open with that minimum wage. SInce we already have a large number of University degree holders that are unable to find work in their field, yeah there are only so many jobs in a lot of degree areas, is the next sirens call for a minimum wage and guaranteed paycheck for any University grad next on their agenda?

I mean it is only fair right, they did what they were told right? Even though many jobs pay far more than those holding a degree would earn and have an actiual demand. Or will it be a UBI funded by whom? We already know that a lot of the tech scions get all buched in the drawers when ideas are floated by cities to tax them to pay for things like homeless. Just curious here.

profuscious

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$15 minimum wage is the least problematic issue

Jul 24, 2019, 11:05 AM

It is a weak bandaid to a much larger problem that neither min wage, UBI, or a more affordable college education can fix. Colleges and universities are not on a sustainable path.

So, what of value is being created that will sustain us going forward? Despite all the illusions of technology like Tigernet, I personally don't see much happening. We need big science breakthroughs that lead to big value creation. Where are the innovations coming from that are going to drive the next 20, 30, 40 years of progress? I'm thinking about the kind of advances such as those we had in the 1900s that led to an explosion of growth and prosperity. Just in the realm of physics, we made incredible discoveries the first half of last century that made possible nuclear energy, the world of Bits, molecular biology, etc.

Some have argued that with regard to innovation, with the exception of the Bits, we have actually been in a period of great stagnation since the early 1970's. What we appear to have been doing since then is just shuffling the deck. We are stuck in the churn of simple financialization, where slices of value are being are continually churned and rehypothecated by wall street, bought and sold every millisecond, without anything of actual real value ever being created. So where is the economic value creation actually coming from? How many more versions of the iphone and facebook do we really need, ya'll?

And while a lot of geniuses on here might volunteer that free markets are the best means for providing the kind of growth I'm talking about, you are not understanding my point. Free markets haven't really moved the needle on the level I'm talking about. Despite all the hype, lately we haven't really solved any of the great science questions that lead to applications here in modern life. I'm a huge fan of black holes by the way, but what can I build with that information?

This is a problem that requires vision from our public leaders, and sadly science is like a tainted word in the intellectual life of most politicians. If Dems wanted a big picture issue to move us forward, they need to start addressing the innovation issue, not minimum wage or UBI.

Some big problems need to be solved to break us out of the stagnation and academia needs to free the best minds to work on them.

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For those all in on $15 min wage and free tuition

Economics is racist.***

$15 minimum wage is the least problematic issue

Re: $15 minimum wage is the least problematic issue

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Re: For those all in on $15 min wage and free tuition

Re: For those all in on $15 min wage and free tuition

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