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Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
arepo
on 13/03/2014, 01:15:58 UTC
There are skilled labor shortages in many industries. There are unskilled labor surpluses. The free market could easily and quickly solve both these problems if the government would get out of the way.

i agree that government and bureaucracy is in a large part obstructing some of the natural restructuring that would otherwise occur in the free market in today's stratified society. however, it is obvious that a paradigm shift occurred around 1970 when productivity, employment rates, and wages decoupled. i don't think it is a coincidence that this lines up with a shift towards automative replacement of many jobs, in both unskilled and skilled labor.

this coupled with the severe contraction of the economy in 2008 and the jobless recovery since has produced and maintained feedback loops manifesting themselves as rapid stratification in both income and wealth distribution in the US and the world: wage suppression, natural monopolization and other effects of economies of scale, globalization of economies corresponding to globalization of inequality, and large profits for the business and financial elite corresponding to large negative externalities for everyone else. each of these items could be expanded into an entire thesis, but i won't go into more detail. the point is that each of these things are independent feedback loops that support and accelerate wealth inequality.

these issues are not directly traceable to meddling governments but may be exacerbated by them. it is particularly misguided to place the blame on governments when these problems are endemic to the apparatus as it stands now that we call Modern Capitalism. it is difficult for some to accept that the sacred cow of "capitalism" may have some natural tendencies towards non-optimal states, but the truth is that the free market is not an ideal, it is a thing that exists in practice, in many forms. some forms may be more desireable than others, and i certainly do not think the state of the apparatus as it exists now is desireable.

--arepo