News for hackers. Stuff that matters.

A comment on Ray Dalio says the global economy is under threat. Parent comment

Re:Ray Dalio says the global economy is under threat by RickJWagner on Sunday November 03, 2019 @05:13PM (#21437081)
If everybody got to do what their freewill told them to do, pretty soon we'd have lots of artists but no plumbers. Or butchers, or morticians, or laborers.

It's so much better being artistic.

I fear it wouldn't end well.

[ Parent | on HN ]
Re:Ray Dalio says the global economy is under threat by Arbalest on Sunday November 03, 2019 @05:41PM (#21437251)
Not everyone is or wants to be an artist. As my sibling comment states, the market takes care of this just fine. There won't be a sudden transfer to people not caring about money or social status. Plenty of people will still go for jobs where the income is better. The kinds of people who do trades are the kind of people who want to build a holiday house on the side, far away from the city. Art isn't the pinnacle of life for everyone.
[ Parent | on HN ]
Re:Ray Dalio says the global economy is under threat by zozbot234 on Sunday November 03, 2019 @05:17PM (#21437101)
> but no plumbers. Or butchers, or morticians, or laborers

The market takes care of that problem quite nicely. Lines of work which are less comfortable or appealing should pay more in the first place.

[ Parent | on HN ]
Re:Ray Dalio says the global economy is under threat by trianglem on Monday November 04, 2019 @02:58AM (#21439705)
Not really, it would make no sense to acquire advanced skills if menial unskilled labor that no one wants to do pays more.
[ Parent | on HN ]
Re:Ray Dalio says the global economy is under threat by croon on Monday November 04, 2019 @07:28AM (#21440968)
Think further a few more steps. There will be an equilibrium around a pay where there is a long enough line for unskilled labor to fill all demand. Assuming an Econ 101 efficient transparent market.
[ Parent | on HN ]
Re:Ray Dalio says the global economy is under threat by littlestymaar on Monday November 04, 2019 @09:27AM (#21441906)
> Assuming an Econ 101 efficient transparent market.

Which is basically “assuming a flat earth and atmosphere approximate to vacuum”. You can't get many useful insights from that.

[ Parent | on HN ]
Re:Ray Dalio says the global economy is under threat by zozbot234 on Monday November 04, 2019 @05:43AM (#21440421)
The kind of menial unskilled labor that we're discussing here is far less appealing than any work involving advanced skills - that's what the higher pay would be compensating for. It all works out.
[ Parent | on HN ]