Readit NewsI won't agree or disagree with your comment, I will just say that the parent poster's comments are all unsupported by data. Clearly, we had a realm only two years ago with (1) millions of people more in the labor market, (2) inflation at 1/4 of what it is now.
We also have been told for two years that inflation like this was impossible, despite editorial after editorial from non-Keynesians saying that we should expect high inflation and supply shocks. This is because supply shocks inevitably happen when capital is mispriced and aggregate demand is forced via government spending. The notoriously smooth supply chains (ha ha) of Soviet command economies was not a historical aberration generated via inflation.
So I won't be listening to the people who have been wrong for two years. Their economic model is wrong, and we can expect their predictions to look like the "Cloud of Points" section of the Phillips curve from the 1970s [1].
[1] https://www.stlouisfed.org/open-vault/2020/january/what-is-p...
Not very strong evidence but I think it would support the idea that more families are taking care of children in the household economy rather than the cash economy if it is recovering less quickly.
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But seriously this is not just a privacy thing. It's also an accessibility problem. Why is it that we have lost the art of just making a web page that does stuff, and then enhancing that functionality?
Been my experience your regular software org does something very similar. Who among us hasn’t had to drop an entire epic’s worth of work to go spin up some MVP (that eventually becomes a bug-riddled production shitstorm) of a component because a claim got made on a sales call that “we’ve been working on it for weeks” and a promise got made that “we could have a demo ready to go just for you by the end of the quarter”? Because you’re “the senior”.
Not saying it’s the norm.
Just that it happens probably more than it should.
Yeah I'm replaceable, but the pain of that replacement is usually more than the pain of making a sales guy eat some crow.
I will not specifically call out names, but the some of the largest and most well known consultancies do this as a matter of practice after they overbook themselves for projects for which they do not have staff on the bench to fill.
It's sad, but honestly the prevalence of these practices (and perhaps growth of them?) only makes the genuine among us more valuable. Those who actually posses technical talent and experience will be needed more and more by companies who get burned by the frauds. Onward and upward I guess.
They do. A large percentage of the population has 401Ks, and many public sector pension plans have equity components. Housing prices are also assets, and inflation in that sector has priced out many people from affording homes, despite low financing costs.
> Full employment is going great -- the job market is tight
We are nowhere close to full employment. We're 3M jobs lower than pre-COVID in the U.S [1], and according to Keynesians, Monetarists, Monetary Keynesians, or whatever hybrid form of wishy washy economics that has used the Phillips curve as policy guidance, this inflation should not happen.
> In the larger sense, the fed's hands are tied, unless their legal mandate is amended to include "not creating asset bubbles"
The Fed's "dual mandate" presumes that (based upon the Phillips curve) there is a sweet spot between full employment and inflation. The correlation is entirely, completely broken [2].
[1] https://fred.stlouisfed.org/series/PAYEMS [2] https://www.nber.org/digest/sep19/phillips-curve-still-usefu...
The issue of course is that would reveal just how much of our data those things Hoover up.
> Recent decades have witnessed a growing focus on two distinct income patterns: persistent pay inequity, particularly a gender pay gap, and growing pay inequality. Pay transparency is widely advanced as a remedy for both. Yet we know little about the systemic influence of this policy on the evolution of pay practices within organizations. To address this void, we assemble a dataset combining detailed performance, demographic and salary data for approximately 100,000 US academics between 1997 and 2017. We then exploit staggered shocks to wage transparency to explore how this change reshapes pay practices. We find evidence that pay transparency causes significant increases in both the equity and equality of pay, and significant and sizeable reductions in the link between pay and individually measured performance.
https://www.nature.com/articles/s41562-022-01288-9