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Joined 1 year ago
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Cake day: July 8th, 2023

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  • The sad fact of the matter is… math

    A corporation might have 10 C-level guys dividing $50 million amongst themselves and 10.000 workers earning $70K, which costs about $100K due to overheads (health insurance, retirement, etc). Together, that’s a billion, which is 20x more than the C level guys.

    The C level guys aren’t the big expense, not by a long shot.

    Labour, government and shareholders divide most of the earnings amongst themselves.

    For the record, I do think we need to tax the wealthy more and the workers less.



  • Dude, I’m old enough to have lived through it.

    Making toys and other plastic shit was never a high paying job in the West.

    And no, it wasn’t charity, it was a win-win that increased living standards on both sides.

    But it did have an impact on low paying manufacturing jobs in the West and that impact was accepted by Labour unions for the two reasons I gave: we (rightfully) concluded there were enough other, better jobs available and didn’t want to keep Chinese workers poor.


  • While that is part of it, the other, bigger part is that Western countries actually do have higher labour costs: better salaries and conditions for our workers.

    When China was outcompeting us on undesirable, low productivity, jobs, we accepted that. It was better to raise a billion Chinese out of poverty than to protect our lowest productivity factory workers. And those workers mostly transitioned to other jobs with higher productivity.

    But now China is richer and their labour force is shrinking, so they will compete with highly productive factory jobs.

    Politically, it is unlikely that car workers will accept unemployment. Nor will other highly paid workers.

    So a trade war is brewing, you better brace yourself for it.