Nobody Cares: PRS

Bartholomew Gallacher

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The German government of a 3 party coalition (Social Democrats, Green Party and Liberals), whose 4 year term would end fall 2025, has reached its end of lifetime. The reason is that German minister of finance, Christian Lindner, leaked a thesis paper to the public press which contained mostly conservative positions on how to refuel the dwindling economy.

German chancellor Olaf Scholz announced he will ask the Bundestag at 15/01/2025, if they are still backing up his government. In case of no new general elections will be held during March 2025.

 

Isabeau

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Bartholomew Gallacher

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Standard economic theory is that robots and automisation of processes gets rid of lower skill jobs but also in return creates new ones. Also it's better for all since prices will decrease.

In a recent published paper named "Automation, career values and political preferences" now some economists from UCLA and others take a closer look at the years 2000 - 2008.

The result is that automisation destroys careers, and leaves scorched earth behind. Before automatisation it was possible to learn a low skill job, and with time to climb up the ladder to better paid jobs. So in short the standard theory is wrong.

With automisation these opportunities are gone in many areas, so that you could only take other equally paid jobs instead.

It also affects the local economy, since people can spend less then.

"One additional robot per 1,000 workers decreased the average local market career value by $3.9K between 2004 and 2008 and by $2.48K between 2008 and 2016, corresponding to 1.7 percent and 1.1 percent of the average career values from the year 2000," the study observes. "In commuting zones that have been more exposed to robots, the average career value has declined further between 2000 and 2016. This decline was more pronounced for low-skilled individuals, with a substantial part of the decline coming from their reduced upward mobility."

"Areas most affected by robotization saw stronger support for populist candidates like Donald Trump in 2016," he noted. "The connection between career uncertainty and political realignment is clear: as people lose faith in their ability to advance economically, they seek alternative political solutions."

 

Cindy Claveau

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Boycott men? South Korea's 4B movement gains traction in the U.S. after Trump's win

Following President-elect Trump’s victory — which was fueled by male voters and to many looked like a referendum on reproductive rights — some young American women are talking about boycotting men.

The idea comes from the South Korean movement known as 4B, or the 4 No’s (bi means “not” in Korean). It calls for the refusal of dating men (biyeonae), sexual relationships with men (bisekseu), heterosexual marriage (bihon) and childbirth (bichulsan).

Interest in the 4B movement has surged in the days since the election, with Google searches spiking and the hashtag taking off on social media. Scores of young women are exploring and promoting the idea in posts on platforms like TikTok and X.
 

Innula Zenovka

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Standard economic theory is that robots and automisation of processes gets rid of lower skill jobs but also in return creates new ones. Also it's better for all since prices will decrease.

In a recent published paper named "Automation, career values and political preferences" now some economists from UCLA and others take a closer look at the years 2000 - 2008.

The result is that automisation destroys careers, and leaves scorched earth behind. Before automatisation it was possible to learn a low skill job, and with time to climb up the ladder to better paid jobs. So in short the standard theory is wrong.

With automisation these opportunities are gone in many areas, so that you could only take other equally paid jobs instead.

It also affects the local economy, since people can spend less then.

"One additional robot per 1,000 workers decreased the average local market career value by $3.9K between 2004 and 2008 and by $2.48K between 2008 and 2016, corresponding to 1.7 percent and 1.1 percent of the average career values from the year 2000," the study observes. "In commuting zones that have been more exposed to robots, the average career value has declined further between 2000 and 2016. This decline was more pronounced for low-skilled individuals, with a substantial part of the decline coming from their reduced upward mobility."

"Areas most affected by robotization saw stronger support for populist candidates like Donald Trump in 2016," he noted. "The connection between career uncertainty and political realignment is clear: as people lose faith in their ability to advance economically, they seek alternative political solutions."

Which points to some obvious problems with the idea that tariffs can help "bring American jobs back home." If, for example, Japanese car companies find themselves, as a result of Trump's tariffs, forced to move production to the US from Mexico, which they originally chose in preference to the US because of lower labour costs, they're going to automate as much as possible the new factories they're forced to build, because robots don't expect to be paid, don't need breaks or time off, and are more reliable than humans.
 

Veritable Quandry

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Last time he was in office, Harley Davidson was in the planning phase of a new American factory. Then the US thew up tariffs on steel and aluminum. So among the retaliatory sanctions our trade partners put American motorcycles on the list. That added to the cost of both producing in the US and exporting to Asian markets. So they shifted plans and built in Vietnam to avoid the tariffs coming and going in the US. Of course this angered many of their hard right fans because Harley is an American company and they (the bikers) don't understand global trade.
 

Noodles

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Standard economic theory is that robots and automisation of processes gets rid of lower skill jobs but also in return creates new ones. Also it's better for all since prices will decrease.

In a recent published paper named "Automation, career values and political preferences" now some economists from UCLA and others take a closer look at the years 2000 - 2008.

The result is that automisation destroys careers, and leaves scorched earth behind. Before automatisation it was possible to learn a low skill job, and with time to climb up the ladder to better paid jobs. So in short the standard theory is wrong.



I am pretty sure everyone claiming othereise was either a moron or aomeone with a stake in eliminating those pesky, expensive, human workers.
 
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Noodles

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Which points to some obvious problems with the idea that tariffs can help "bring American jobs back home." If, for example, Japanese car companies find themselves, as a result of Trump's tariffs, forced to move production to the US from Mexico, which they originally chose in preference to the US because of lower labour costs, they're going to automate as much as possible the new factories they're forced to build, because robots don't expect to be paid, don't need breaks or time off, and are more reliable than humans.
I think the bigger issue is that even with the tariffs, unless they are enormous, its still going to be cheaper for companies to pay Chinese or Taiwanese or Mexican or whatever people dollars per hour vs tens of dollars per hour, and eat the tariffs.

(I am not trying to justify paying people poor wages)
 

Dakota Tebaldi

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Standard economic theory is that robots and automisation of processes gets rid of lower skill jobs but also in return creates new ones. Also it's better for all since prices will decrease.
Costs will decrease. Prices don't decrease anymore, that's a big no-no. The floor is fixed at whatever customers have shown they are willing to pay. Any cost savings can only go to dividends or expansion - try anything else and your investors will walk. Welcome to the new Austrian growth-centered business model.
 
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Veritable Quandry

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So we are left with 100 factory workers competing for 3 engineer positions and a couple of coding jobs, none of which they are qualified for. Benefits for all, though.
 

Casey Pelous

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So we are left with 100 factory workers competing for 3 engineer positions and a couple of coding jobs, none of which they are qualified for. Benefits for all, though.
And yet, as if by a miracle, the HR department will survive.

HR: The Keith Richards of modern industry.