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A comment on I think US college education is nearer to collapsing than it appears. Parent comment

Re:I think US college education is nearer to collapsing than... by ajb on Sunday March 20, 2022 @07:50PM (#30748084)
Not everything is like the laws of physics, which continue to work over many orders of magnitude. Supply and demand for employment works backwards at both the top and the bottom of the salary range. At the top, beyond a certain point supply decreases because people save enough to give up working. At the other end, reducing post can increase supply because people's need for income of inelastic below a certain point, so they start working longer hours and working second or third jobs.
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Re:I think US college education is nearer to collapsing than... by gruez on Sunday March 20, 2022 @08:20PM (#30748368)
>Supply and demand for employment works backwards at both the top and the bottom of the salary range. At the top, beyond a certain point supply decreases because people save enough to give up working.

Is this really applicable to this context? In other words, are farming jobs really going to get to a point where the pay is $10M a year, and people only take the job for a year and then never work another day? Considering that being a farmer has basically no barrier to entry, I doubt it will get to that point. Not to mention, if farm labor was really that expensive, so would the cost of living, so those would be FIRE farm workers would have to come back to pay the increased food bill.

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Re:I think US college education is nearer to collapsing than... by ajb on Monday March 21, 2022 @09:20AM (#30753798)
No, the case of farm workers is much more likely to be the opposite one, where workers are paid so little that they take multiple jobs and increase supply, leading to a low income trap.

Every mechanism has regimes in which it fails. 'Supply and demand' isn't always the answer any more than 'mongodb' or 'rust' are always the answer.

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Re:I think US college education is nearer to collapsing than... by nobodyandproud on Sunday March 20, 2022 @11:28PM (#30749872)
> Considering that being a farmer has basically no barrier to entry, I doubt it will get to that point.

Care to breakdown the costs?

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