The U.S. labor shortage is reaching a critical point

Discussion in 'General Discussion' started by Czer, Jul 5, 2018.

  1. Velox

    Velox TZT Abuser

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    I agree, having a location-dependent MW makes sense. Although as you note it depends on how sensitive the market really is, and everything else equal, rural USA could certainly use a disposable income influx of some kind. Sweden actually has a pretty curious system with no national MW, but strong unions negotiate an implicit per-sector salary floor. This is a bit hit and miss, but has worked fairly well in keeping the working class from lagging too far behind in salary increases. I'm not sure just how flexible it is to regional considerations, but I suspect there is some leeway since it comes down to union-employer negotiations.
     
  2. Agrul

    Agrul TZT Neckbeard Lord

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    "everything else equal, rural USA could certainly use a disposable income influx of some kind" I agree with. I think MW may be limited as a tool in its ability to get that done, though. Job retraining programs, targeted subsidies etc seem more likely to succeed without adverse side effects.

    Which is not to argue against increasing the MW -- it's way too low in the US. I just suspect most published work does not include a broad enough range of conditions to properly forecast what would happen with a uniform, large MW increase nation-wide.

    My suggestion of tying MW increases to local measures of inflation also seems to have fairness issues as well: how do you ensure people don't get trapped in their local area b/c their "local MW" can't get support getting them to an area with a higher local MW? Politically, how do you explain why you're requiring that businesses give less money to people in BumFuck, NW less money than people in BigDick, SW?
     
  3. Velox

    Velox TZT Abuser

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    You would be doing it implicitly via inflation, but tying to a local CPI seems fairly explainable? E.g. MW is set to 4 Big Macs per hour :)
     
  4. Czer

    Czer I'm a poor person. The lambo is my cousin's.

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    Wealth Psychologist
    Jan 22, 2018

    https://www.investopedia.com/terms/w/wealthpsychologist.asp

    What is a Wealth Psychologist
    A wealth psychologist is a mental health professional who specializes in issues relating specifically to wealthy individuals. Wealth psychologists are also called money psychologists or wealth counselors. Wealth psychologists help their ultra-rich clients deal with issues such as the guilt they feel about being wealthy, or advise on inheritance issues and counsel parents on how to raise children who are not spoiled by money.

    BREAKING DOWN Wealth Psychologist

    Wealth psychologists assist many modern wealthy families, most of which built their wealth in one generation. They may not be comfortable with all aspects of being rich, and may have a lot of guilt associated with it. Even for those people who find themselves financially prepared, more are beginning to realize they may not be psychologically or emotionally prepared to cope with wealth. Ample evidence points to the notion that, the more people are prepared in this way, the happier they are throughout their remaining life stages. The younger people are when they begin to work toward full preparation, the more productive their lives.

    Wealth Psychology’s Role in Holistic Planning

    Financial planning that emphasized the quantitative side of life has given way to a practice intended to broaden the scope and clarity of one’s vision of the future, and the values that drive the commitment to living a full and complete life. Expectations of longer lives, uncertainty over a frail economy, fear of market risk, disillusionment with government and concerns over world chaos are contributing factors to new attitudes about money and happiness.

    Some private wealth management and financial services firms retain wealth psychologists to train their financial advisors or provide individual counseling to clients. Wealth psychologists are increasingly included as a part of a client’s advisory team engaged in a holistic financial planning process. Their focus is on helping clients better understand their values, attitudes and beliefs about money to better cope with self-limiting or self-destructive behaviors at the center of their relationship with money or with a family of wealth.

    Preparing Future Generations for Wealth

    Wealth psychology is becoming more prominent in legacy planning, preparing family members and future generations for the emotional transfer of wealth. While the precepts for effectively maximizing the transfer of assets are well established within the traditional wealth management community, the guiding principles for preparing family members and future generations for the emotional transfer of values and beliefs are often minimized or ignored. The role of the wealth psychologist is to help families bridge the communication and trust gap for building solidarity of vision and purpose among disparate family members and generations.
     
  5. Czer

    Czer I'm a poor person. The lambo is my cousin's.

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  6. Kanmuk_Sealclubber

    Kanmuk_Sealclubber Yes

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    I’m against anything that could potentially raise the life expectancy in rural communities or discourage people from moving out of them. Those shitholes need to die.
     
  7. Utumno

    Utumno Administrator Staff Member

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