My Email To Grind Reel

Updated: Jan 22

I came across this video and emailed the YouTuber.

Dec 20, 2020

I wonder if you have thought about supply and demand of professionals and of jobs.

In recent decades, supply chains have been consolidated. Bigger companies have bought out smaller companies. As a result, the negotiation power of job-seekers has reduced. Since governments keep on propping up big corporations and hampering small businesses, this trend is bound to continue whether you and I like it or not. There may come a day when a few corporations would employ everyone. Then, average real wages (inflation-adjusted) would bottom out. There would be no competition for employees. I have written a blog post that touches on competition for labor.

The only solution today is not to participate in mass education. Mass education produces homogeneous labor (job-seeker with relatively similar skills). If everyone goes his own way and reads only what appeals to him, we can move towards more heterogeneous labor, which not only reduces labor competition and pushes average wages up but also encourages independent business building. A group of 10 can't build a company if they all have the same education. If they are all uniquely and differently skilled, they can start their own firm. In addition to encouraging self-employment, they would also create more jobs for people who have sadly been mass educated.

I hope you will allow me to use your platform to speak the truth. If you need more material, you can scour through my blog. I have a lot written under Economics category and a lot more on paper.

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