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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 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.
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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.
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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.

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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.
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