The biggest issue in every major economy currently, from America to the UK to China to Germany is the simple fact that we have likely hit peak White Collar service economy from a labor perspective. We are in a new era of structural heightened unemployment. The system cannot…
Elite overproduction as Peter Thiel says. There will be a Market correction/reallocation in professions where we will see admissions for certain degrees fall from the 00’/10’s peak and people job hop across entire fields
In general University admissions is heading for a big correction as demographics hit, but some countries could hurry the process along by imposing rationing quotas, but I suspect most won't.
I agree. Which is why, demographics won't be a deathblow. There were times in history when a median age of 28, meant civilisational collapse, today it implies a 'youth bulge'. As time goes on, workforce needs are only going to shrink. Can see this in China too, there are…
It’s not “elite overproduction” but it’s overproduction in a broader sense. Ultimately, you run out of markets for goods and services bc the sum of ppls labor is more productive then the demand to absorb them. To pay them more to induce demand cuts too far into profits.
Indeed, not just the places u mentioned, but even here in Nigeria. I questioned if this was not our reality- that white collar jobs were no longer enough due to population or govt's failure, hence d new education curriculum. Radio convo on dis. Listen 👇 spreaker.com/episode/of-nig…
Do you think that the number of WC jobs is structurally (rather than cyclicaly) declining, or the number of jobs is the same but there are more people competing?
This seems like an India/China problem exported to the west. 730k people on h1-b those are white collar IT workers but most middle class. Rare Earths we gave up the tech. Millions of white-collar industrial jobs were losts. If we completely axed h1-b we free 730k jobs
If the US just focused on public funding on public infrastructure improvements - zoomers would have programs, apprenticeships and jobs ready for the next 2 decades. Our public infrastructure is ancient.
the natural state of the world ought to be one of global communism, where everything is automated and the overproduced elites can all seek out their passions, with the working class being able to join them. this is the issue of our times. capitalism cannot accomodate the world.
I've had similar thoughts a while back. The public will put pressure on the governments, who will then overtax private companies. It becomes a cycle where everyone squeezes everyone else until the system breaks
There is a forever undersupply of nurses and doctors all across the world Zoomers will need to figure out how to destroy the medical trade unions and gatekeeping
There's always farming. You can grow your own food. That's how civilization started btw. Young Koreans are doing that. straitstimes.com/asia/east-asia…
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