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Re:Where our economy is, for the young by lotsofpulp on Friday October 02, 2020 @11:20AM (#24663542)
> Good work is still highly valued, it's just that the value is not paid to the worker, but to the company owning the work. If you increase a company's profit by $500k annually through setting up a new automation system, you'll still only get your $40k internship salary. And the company will pocket the remaining $460k, to be paid out to the owners as profits.

People are paid what it costs to replace them, not the profit they generate. The less replaceable you are, the more of the profit you get.

Price (pay) is the intersection of supply and demand, and nothing else.

That is why factory workers in the US got outsourced. That is why when deciding what you are going to sell for the rest of your life, you should go for something that few others are able to sell.

And everyone does this, it’s not some evil business plan. No one pays $5 more for the same loaf of bread. Everyone I know pays the least amount they have to. Creating a floor for that is the government’s job, not an individual business (and it can’t anyway, since it has to compete).

Re:Where our economy is, for the young by entropea on Friday October 02, 2020 @01:11PM (#24664722)
>That is why factory workers in the US got outsourced.

Nothing makes the CEO happier to know that you believe it is the employee's fault their jobs got outsourced, and not the fault of the CEO who wanted to maximize profit at the cost of millions of good paying American union jobs that actually helped families, communities, and created the 'American Dream', all so they could afford the status that brings when they show their new multi million dollar sailboat at the regatta. The job that was outsourced still needed to be done, someone still had to do it.

Re:Where our economy is, for the young by JAlexoid on Friday October 02, 2020 @02:18PM (#24665414)
There's no such thing as "American Job", jut like there's no such thing as a New York job or LA job. Jobs are a product of a market, that can be as local as a building or as global as information services.

American Dream cannot exist in a world with limited resources. It only existed in a rapidly expanding resource pool - taking lands from natives, creating new tech, freeing up resources by killing millions of people or digging up stuff from the ground.

As such - it's not CEOs job to maintain your job, specially when those CEOs are pushed by your own pension fund managers to move your job somewhere more efficient.

And finally - global poverty has dropped significantly because of that outsourcing. Ignoring that is literally being the "they toork R jerbs" South Park charachter.