There are 3.7 billion people in the global middle class ($11-110 per day in PPP). This is 48% of the world’s population. An additional 190 million (2.5%) are richer than global middle class. The world population is 7.65 billion. The wealthy and the middle class are 3.9 billion today. World population will reach 8.5 billion in 2030.
The global middle class and the world population in general is dominated by Asia. Asia currently has 4.5 billion people and there will be 4.92 billion people in Asia in 2030.
The U.S. dominates the global rich. In 2016, rich households in the U.S. made up 61 percent of the global number, and they spend almost two-thirds of total consumption by rich households. This dominance is likely to persist. Even with a growing number of rich households in other countries, the U.S. should still account for over 50 percent of rich household spending by 2030.
There are 1.75 billion global middle class in Asia today and there will be 3.5 billion global middle class in Asia in 2030. Asia will go from having 39% of its population as global middle class today to 71% of the Asian population will be global middle class in 2030.
Asia will soon be 50% of the total global middle class and by 2030 will be 65% of the global middle class population.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
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There are many Filipinos that work in the Middle East and in America that send money home to their families. This is also true of other countries.
Wife’s family in PH is middle class entirely due to remittances.
Wife’s family in PH is middle class entirely due to remittances.
Lucky ones don’t have to go to the Middle East.
Economy is not a zero sum game. Whatever immigrants lawfully earn is distributed in their country of residence as well, in the form of taxes and living expenses. Besides the more money moves around, the more the others will have to buy your stuff and make you richer. Also the richer the poor become, the less incentive they will have to come (except as tourists).
And any rational person can see that this needs to end A Filipino barber or line cook doesn’t produce more when he moves from the Phillipines to the US His wages increase because he is transferring wealth from a wealthier country by cutting the hair of wealthier people and cooking for wealthier people in a wealthier country. And whatever little he sends back becomes a fortune thru exchange rates. Instead of cycling the money back into the US that money now goes to the Phillipines and cycles there instead. The main effect of importing 3rd world labor is that poorer countries are siphoning our wealth, while putting Americans out of work.
God bless the CCP, the CCP has been the worlds only competent government in the past 20 years and will be responsible for uplifting China, Africa and South America
Why the division between Sub-Saharan Africa and “North America”? I assume it must be a typo.
Lucky ones don’t have to go to the Middle East.
Economy is not a zero sum game. Whatever immigrants lawfully earn is distributed in their country of residence as well in the form of taxes and living expenses. Besides the more money moves around the more the others will have to buy your stuff and make you richer. Also the richer the poor become the less incentive they will have to come (except as tourists).
And any rational person can see that this needs to endA Filipino barber or line cook doesn’t produce more when he moves from the Phillipines to the US His wages increase because he is transferring wealth from a wealthier country by cutting the hair of wealthier people and cooking for wealthier people in a wealthier country. And whatever little he sends back becomes a fortune thru exchange rates. Instead of cycling the money back into the US that money now goes to the Phillipines and cycles there instead. The main effect of importing 3rd world labor is that poorer countries are siphoning our wealth while putting Americans out of work.
God bless the CCP the CCP has been the worlds only competent government in the past 20 years and will be responsible for uplifting China Africa and South America
Why the division between Sub-Saharan Africa and North America””? I assume it must be a typo.”””
There are many Filipinos that work in the Middle East and in America that send money home to their families. This is also true of other countries.
Given that the U.S. unemployment rate is about 4%, and has been under 6% for 4 years, importing labor doesn’t seem to be too dire a threat. One can argue the economy grows when poorer people have more money, since they by necessity will spend it, keeping it in circulation. Rich people however, will keep a portion tied up in real estate, bullion and art, where it is sequestered from the economy. The concept of the Marshall Plan after WWII was to essentially give money to Europe to rebuild after the extreme devastation there. This helped lift the economy for everybody, and the U.S. had a booming economy all thru the 1950’s, despite giving away over $12 billion in 1950 dollars.
I think it should be North Africa/Middle East. Looks like a copy & paste error.
Given that the U.S. unemployment rate is about 4{22800fc54956079738b58e74e4dcd846757aa319aad70fcf90c97a58f3119a12} and has been under 6{22800fc54956079738b58e74e4dcd846757aa319aad70fcf90c97a58f3119a12} for 4 years importing labor doesn’t seem to be too dire a threat.One can argue the economy grows when poorer people have more money since they by necessity will spend it keeping it in circulation. Rich people however will keep a portion tied up in real estate bullion and art where it is sequestered from the economy.The concept of the Marshall Plan after WWII was to essentially give money to Europe to rebuild after the extreme devastation there. This helped lift the economy for everybody and the U.S. had a booming economy all thru the 1950’s despite giving away over $12 billion in 1950 dollars.
I think it should be North Africa/Middle East. Looks like a copy & paste error.
Your first statement is simply not true. A barber provides value by removing the time it takes to cut hair, and by eliminating the personal marketing cost of a bad haircut. If his customers’ time and image are worth more, so is his time. Following your assertion to its logical conclusion would mean all service jobs would disappear as a society achieves moderate standard of living; in reality the opposite is true because customers’ time becomes too valuable. Skill services like cooking and barbering, which require a learning curve and some capital investment, become proportionally more valuable as a society becomes richer.
Your first statement is simply not true. A barber provides value by removing the time it takes to cut hair and by eliminating the personal marketing cost of a bad haircut. If his customers’ time and image are worth more so is his time. Following your assertion to its logical conclusion would mean all service jobs would disappear as a society achieves moderate standard of living; in reality the opposite is true because customers’ time becomes too valuable. Skill services like cooking and barbering which require a learning curve and some capital investment become proportionally more valuable as a society becomes richer.
Except we have minimum wage, in a fair world a somali chef would make no more working in Somalia than he would make in the US. He would move to the US, live in a hut and piss in a hole and work for pennies while living in the US This is because the true economic value of a chef is pennies. In a ideal world we would deport low skill service workers, replace them with Somalis willing to work for pennies and piss in a hole There would be no minimum wage, no borders If the somali wants more money he gets replaced by another desperate somali willing to work for 50 cents a day. So where is this excess value coming from? the somali is not magically cooking more food or better food when he comes to the US. The extra value comes from siphoning off other workers with higher wages and higher skills via minimum wage laws and immigration laws. The somali steals value by getting free infrastructure like plumbing, electricity etc.. that his ancestors did not build This is value transference On the other hand for jobs that are truly free market that can cross borders and already pay well above minimum wage, like for quality programmers (I’m talking google level programmers) they make the same whether they live in China or the US or Somalia. A quality programmer could easily move to Somalia, and get programming contracts for specific programming problems and make as much had he lived in the US
As a taxpayer you will pay more taxes to pay for the unemployed American who had his job taken by a Filipino barber willing to work for a pittance since it is a fortune in his home country. This means you pay higher taxes, while the business owner benefits, the Filipino benefits and the unemployed American gets hurt. There is in addition a net economic negative for the US and a Net positive for the Phillipines. Net economic negative for the American taxpayer and unemployed, Net positive for immigrant and business owner
Unemployment rate is 4%, but the number is meaningless since it only includes people who are actively looking for work. And lumps in seasonal work like census workers who only work for a month. The key metric to look at is Employment population ratio which is the total number of jobs divided by total number of working age people We have around 129 million full time workers, 325 million people and a working population of 243 million. What if we eliminate people enrolled in college? We currently have 20 million per year in college. So working population = 223 million. Lets take out the children too from 16-18 that’s another 20 million. 203 working population But wait this 203-129 million could equal housewives and disabled people But we can look at previous years google “Employment population ratio us” In 1970’s the ratio was around 70%, which means that 70% of the working population had jobs. In 2013 this number fell to 67% and in 2018 this number fell to 60% So yes by importing labor we are indeed sending more americans to the welfare rolls.
Except we have minimum wage in a fair world a somali chef would make no more working in Somalia than he would make in the US. He would move to the US live in a hut and piss in a hole and work for pennies while living in the US This is because the true economic value of a chef is pennies. In a ideal world we would deport low skill service workers replace them with Somalis willing to work for pennies and piss in a hole There would be no minimum wage no bordersIf the somali wants more money he gets replaced by another desperate somali willing to work for 50 cents a day. So where is this excess value coming from? the somali is not magically cooking more food or better food when he comes to the US. The extra value comes from siphoning off other workers with higher wages and higher skills via minimum wage laws and immigration laws. The somali steals value by getting free infrastructure like plumbing electricity etc.. that his ancestors did not build This is value transference On the other hand for jobs that are truly free market that can cross borders and already pay well above minimum wage like for quality programmers (I’m talking google level programmers) they make the same whether they live in China or the US or Somalia. A quality programmer could easily move to Somalia and get programming contracts for specific programming problems and make as much had he lived in the US
As a taxpayer you will pay more taxes to pay for the unemployed American who had his job taken by a Filipino barber willing to work for a pittance since it is a fortune in his home country. This means you pay higher taxes while the business owner benefits the Filipino benefits and the unemployed American gets hurt. There is in addition a net economic negative for the US and a Net positive for the Phillipines. Net economic negative for the American taxpayer and unemployed Net positive for immigrant and business owner
Unemployment rate is 4{22800fc54956079738b58e74e4dcd846757aa319aad70fcf90c97a58f3119a12} but the number is meaningless since it only includes people who are actively looking for work. And lumps in seasonal work like census workers who only work for a month. The key metric to look at is Employment population ratio which is the total number of jobs divided by total number of working age peopleWe have around 129 million full time workers 325 million people and a working population of 243 million.What if we eliminate people enrolled in college? We currently have 20 million per year in college.So working population = 223 million. Lets take out the children too from 16-18 that’s another 20 million. 203 working population But wait this 203-129 million could equal housewives and disabled peopleBut we can look at previous yearsgoogle Employment population ratio us”” In 1970’s the ratio was around 70{22800fc54956079738b58e74e4dcd846757aa319aad70fcf90c97a58f3119a12}”””” which means that 70{22800fc54956079738b58e74e4dcd846757aa319aad70fcf90c97a58f3119a12} of the working population had jobs. In 2013 this number fell to 67{22800fc54956079738b58e74e4dcd846757aa319aad70fcf90c97a58f3119a12} and in 2018 this number fell to 60{22800fc54956079738b58e74e4dcd846757aa319aad70fcf90c97a58f3119a12}So yes by importing labor we are indeed sending more americans to the welfare rolls.”””
Same here! We keep the family (the entire family…not just her parents) afloat. Just bought the eldest niece a cell phone (why? because my wife said she needed it) and now all three others are jelous and want one of their own.
God bless the drug trade. The drug trade made it possible for you to be on the crack high that were on when you wrote that comment.
Good. They can pay for Global Warming Mitigation w/o a dime from the West. Works for me!
Somali immigrant makes more because of Baumol’s Cost Disease. This is the same cause as to why first world symphony performers make more than their third world counterparts despite the fact that heir productivity is the pretty much the same. bit.ly/2xdbqqH
A barber provides value by removing the time it takes to cut hair” and by eliminating the personal marketing cost of a bad haircut.””Pisa never disputed that. Thing about the Philippines is that the cost of manufactured goods are higher than local service labor vs the opposite in the US.Like laundry washing machines. Cheaper to hire a maid in the Phils to wash your clothes by hand for a year than to buy a laundry washing machine to do it. This is something foreigners do not get until they’ve been to the Phils for a while/often.”””
Same here! We keep the family (the entire family…not just her parents) afloat. Just bought the eldest niece a cell phone (why? because my wife said she needed it) and now all three others are jelous and want one of their own.
God bless the drug trade. The drug trade made it possible for you to be on the crack high that were on when you wrote that comment.
Good. They can pay for Global Warming Mitigation w/o a dime from the West. Works for me!
I am forced to admit, Pisa: When you are right…you are right.
The US had a booming economy thru the 1950s because all of its industrial competitors were bombed out rubble during that time. Marshall Plan (and its Japanese equiv) was directed at two things: infrastructure and core productive output industries to kickstart the recovery. Most of it’s value wasn’t even in money but rather technical knowledge transfer, as the US was the China of that time when it came to manufacturing tech. This is how the Japanese came to learn if Deming’s methods and followed them religiously. By the 1960s, Europe & Japane had mostly recovered and competition from them was starting to kick our butts.
Somali immigrant makes more because of Baumol’s Cost Disease. This is the same cause as to why first world symphony performers make more than their third world counterparts despite the fact that heir productivity is the pretty much the same. bit.ly/2xdbqqH
A barber provides value by removing the time it takes to cut hair, and by eliminating the personal marketing cost of a bad haircut.” Pisa never disputed that. Thing about the Philippines is that the cost of manufactured goods are higher than local service labor vs the opposite in the US. Like laundry washing machines. Cheaper to hire a maid in the Phils to wash your clothes by hand for a year than to buy a laundry washing machine to do it. This is something foreigners do not get until they’ve been to the Phils for a while/often.
I am forced to admit Pisa: When you are right…you are right.
The US had a booming economy thru the 1950s because all of its industrial competitors were bombed out rubble during that time. Marshall Plan (and its Japanese equiv) was directed at two things: infrastructure and core productive output industries to kickstart the recovery. Most of it’s value wasn’t even in money but rather technical knowledge transfer as the US was the China of that time when it came to manufacturing tech. This is how the Japanese came to learn if Deming’s methods and followed them religiously.By the 1960s Europe & Japane had mostly recovered and competition from them was starting to kick our butts.
They are willing to work for less and work in worse conditions compared to their peers in the same profession. Certain professions that require credentials the Filipino’s can bypass by doing their education in another country. And get high wages despite sub 90 IQ Getting a nursing degree is far easier in the Phillipines when you are competing with other 80IQ dullards, the government in particular works hand in hand to give nursing degrees to as many dullards as possible to send to other countries so they can collect remittances.
They make more and their quality of life improves because we can’t deny them infrastructure by forcing them to live in mud huts nor can we pay them 10 cents an hour. Baumol’s cost disease on the other hand is a economic fallacy, that dictates that the Somali chef needs to be paid more because otherwise he would become a highly paid doctor or engineer instead and that if wages for chef’s weren’t sufficient we would have no chefs. But any idiot with two braincells to rub together can see that the Somali immigrant makes more simply because the government prevents hut living, and limits the number of somali immigrants thus artificially constricting the labor market allowing them to bargain for higher wages. Just because some clown has a PHD and wrote a book does not mean he is right. Baumol like other libtard economists has no understanding of the massive cognition gap between certain groups of humans
They are willing to work for less and work in worse conditions compared to their peers in the same profession. Certain professions that require credentials the Filipino’s can bypass by doing their education in another country. And get high wages despite sub 90 IQGetting a nursing degree is far easier in the Phillipines when you are competing with other 80IQ dullards the government in particular works hand in hand to give nursing degrees to as many dullards as possible to send to other countries so they can collect remittances.
They make more and their quality of life improves because we can’t deny them infrastructure by forcing them to live in mud huts nor can we pay them 10 cents an hour. Baumol’s cost disease on the other hand is a economic fallacy that dictates that the Somali chef needs to be paid more because otherwise he would become a highly paid doctor or engineer instead and that if wages for chef’s weren’t sufficient we would have no chefs.But any idiot with two braincells to rub together can see that the Somali immigrant makes more simply because the government prevents hut living and limits the number of somali immigrants thus artificially constricting the labor market allowing them to bargain for higher wages. Just because some clown has a PHD and wrote a book does not mean he is right. Baumol like other libtard economists has no understanding of the massive cognition gap between certain groups of humans
Baumol’s cost disease on the other hand is a economic fallacy, that dictates that the Somali chef needs to be paid more because otherwise he would become a highly paid doctor or engineer instead and that if wages for chef’s weren’t sufficient we would have no chefs.” You don’t understand Baumol’s Cost Disease then.
We can get global warming mitigation with no downside by replacing coal with nuclear for electricity generation.
Baumol’s cost disease on the other hand is a economic fallacy” that dictates that the Somali chef needs to be paid more because otherwise he would become a highly paid doctor or engineer instead and that if wages for chef’s weren’t sufficient we would have no chefs.””You don’t understand Baumol’s Cost Disease then.”””
We can get global warming mitigation with no downside by replacing coal with nuclear for electricity generation.
The lucky ones are few and far between. The young lady I know did not totally hate her years in Saudi Arabia. It gave her an opportunity to help herself and her family. And because of it she is doing quite well now.
The lucky ones are few and far between. The young lady I know did not totally hate her years in Saudi Arabia. It gave her an opportunity to help herself and her family. And because of it she is doing quite well now.
This is the exact definition, In fact Baumol came up with his theory when looking at musicians and managers. He noticed that their wages increased despite not being any more productive decades ago His theory specifically says that services like musicians and managers go up, because other workers in other professions are increasing in productivity. Thus their wages need to increase as well to be sufficient enough to prevent them from changing to the more productive profession. His theory then follows that services like education and healthcare, etc…. will always increase in cost without increasing in productivity as long as productivity in other fields are increasing The person that doesn’t understand cost disease is you.
This is the exact definition In fact Baumol came up with his theory when looking at musicians and managers. He noticed that their wages increased despite not being any more productive decades ago His theory specifically says that services like musicians and managers go up because other workers in other professions are increasing in productivity. Thus their wages need to increase as well to be sufficient enough to prevent them from changing to the more productive profession. His theory then follows that services like education and healthcare etc…. will always increase in cost without increasing in productivity as long as productivity in other fields are increasing The person that doesn’t understand cost disease is you.
Sure, get that glaciation going.
Sure get that glaciation going.
Sure, get that glaciation going.
Sure get that glaciation going.
Sure, get that glaciation going.
This is the exact definition, In fact Baumol came up with his theory when looking at musicians and managers. He noticed that their wages increased despite not being any more productive decades ago His theory specifically says that services like musicians and managers go up, because other workers in other professions are increasing in productivity. Thus their wages need to increase as well to be sufficient enough to prevent them from changing to the more productive profession. His theory then follows that services like education and healthcare, etc…. will always increase in cost without increasing in productivity as long as productivity in other fields are increasing The person that doesn’t understand cost disease is you.
This is the exact definition In fact Baumol came up with his theory when looking at musicians and managers. He noticed that their wages increased despite not being any more productive decades ago His theory specifically says that services like musicians and managers go up because other workers in other professions are increasing in productivity. Thus their wages need to increase as well to be sufficient enough to prevent them from changing to the more productive profession. His theory then follows that services like education and healthcare etc…. will always increase in cost without increasing in productivity as long as productivity in other fields are increasing The person that doesn’t understand cost disease is you.
The lucky ones are few and far between. The young lady I know did not totally hate her years in Saudi Arabia. It gave her an opportunity to help herself and her family. And because of it she is doing quite well now.
The lucky ones are few and far between. The young lady I know did not totally hate her years in Saudi Arabia. It gave her an opportunity to help herself and her family. And because of it she is doing quite well now.
Baumol’s cost disease on the other hand is a economic fallacy, that dictates that the Somali chef needs to be paid more because otherwise he would become a highly paid doctor or engineer instead and that if wages for chef’s weren’t sufficient we would have no chefs.” You don’t understand Baumol’s Cost Disease then.
Baumol’s cost disease on the other hand is a economic fallacy” that dictates that the Somali chef needs to be paid more because otherwise he would become a highly paid doctor or engineer instead and that if wages for chef’s weren’t sufficient we would have no chefs.””You don’t understand Baumol’s Cost Disease then.”””
We can get global warming mitigation with no downside by replacing coal with nuclear for electricity generation.
We can get global warming mitigation with no downside by replacing coal with nuclear for electricity generation.
They are willing to work for less and work in worse conditions compared to their peers in the same profession. Certain professions that require credentials the Filipino’s can bypass by doing their education in another country. And get high wages despite sub 90 IQ Getting a nursing degree is far easier in the Phillipines when you are competing with other 80IQ dullards, the government in particular works hand in hand to give nursing degrees to as many dullards as possible to send to other countries so they can collect remittances.
They are willing to work for less and work in worse conditions compared to their peers in the same profession. Certain professions that require credentials the Filipino’s can bypass by doing their education in another country. And get high wages despite sub 90 IQGetting a nursing degree is far easier in the Phillipines when you are competing with other 80IQ dullards the government in particular works hand in hand to give nursing degrees to as many dullards as possible to send to other countries so they can collect remittances.
They make more and their quality of life improves because we can’t deny them infrastructure by forcing them to live in mud huts nor can we pay them 10 cents an hour. Baumol’s cost disease on the other hand is a economic fallacy, that dictates that the Somali chef needs to be paid more because otherwise he would become a highly paid doctor or engineer instead and that if wages for chef’s weren’t sufficient we would have no chefs. But any idiot with two braincells to rub together can see that the Somali immigrant makes more simply because the government prevents hut living, and limits the number of somali immigrants thus artificially constricting the labor market allowing them to bargain for higher wages. Just because some clown has a PHD and wrote a book does not mean he is right. Baumol like other libtard economists has no understanding of the massive cognition gap between certain groups of humans
They make more and their quality of life improves because we can’t deny them infrastructure by forcing them to live in mud huts nor can we pay them 10 cents an hour. Baumol’s cost disease on the other hand is a economic fallacy that dictates that the Somali chef needs to be paid more because otherwise he would become a highly paid doctor or engineer instead and that if wages for chef’s weren’t sufficient we would have no chefs.But any idiot with two braincells to rub together can see that the Somali immigrant makes more simply because the government prevents hut living and limits the number of somali immigrants thus artificially constricting the labor market allowing them to bargain for higher wages. Just because some clown has a PHD and wrote a book does not mean he is right. Baumol like other libtard economists has no understanding of the massive cognition gap between certain groups of humans
This is the exact definition, In fact Baumol came up with his theory when looking at musicians and managers.
He noticed that their wages increased despite not being any more productive decades ago
His theory specifically says that services like musicians and managers go up, because other workers in other professions are increasing in productivity. Thus their wages need to increase as well to be sufficient enough to prevent them from changing to the more productive profession.
His theory then follows that services like education and healthcare, etc…. will always increase in cost without increasing in productivity as long as productivity in other fields are increasing
The person that doesn’t understand cost disease is you.
The lucky ones are few and far between. The young lady I know did not totally hate her years in Saudi Arabia. It gave her an opportunity to help herself and her family. And because of it she is doing quite well now.
“Baumol’s cost disease on the other hand is a economic fallacy, that dictates that the Somali chef needs to be paid more because otherwise he would become a highly paid doctor or engineer instead and that if wages for chef’s weren’t sufficient we would have no chefs.”
You don’t understand Baumol’s Cost Disease then.
We can get global warming mitigation with no downside by replacing coal with nuclear for electricity generation.
They are willing to work for less and work in worse conditions compared to their peers in the same profession.
Certain professions that require credentials the Filipino’s can bypass by doing their education in another country. And get high wages despite sub 90 IQ
Getting a nursing degree is far easier in the Phillipines when you are competing with other 80IQ dullards, the government in particular works hand in hand to give nursing degrees to as many dullards as possible to send to other countries so they can collect remittances.
They make more and their quality of life improves because we can’t deny them infrastructure by forcing them to live in mud huts nor can we pay them 10 cents an hour.
Baumol’s cost disease on the other hand is a economic fallacy, that dictates that the Somali chef needs to be paid more because otherwise he would become a highly paid doctor or engineer instead and that if wages for chef’s weren’t sufficient we would have no chefs.
But any idiot with two braincells to rub together can see that the Somali immigrant makes more simply because the government prevents hut living, and limits the number of somali immigrants thus artificially constricting the labor market allowing them to bargain for higher wages.
Just because some clown has a PHD and wrote a book does not mean he is right.
Baumol like other libtard economists has no understanding of the massive cognition gap between certain groups of humans
I am forced to admit, Pisa: When you are right…you are right.
I am forced to admit Pisa: When you are right…you are right.
The US had a booming economy thru the 1950s because all of its industrial competitors were bombed out rubble during that time. Marshall Plan (and its Japanese equiv) was directed at two things: infrastructure and core productive output industries to kickstart the recovery. Most of it’s value wasn’t even in money but rather technical knowledge transfer, as the US was the China of that time when it came to manufacturing tech. This is how the Japanese came to learn if Deming’s methods and followed them religiously. By the 1960s, Europe & Japane had mostly recovered and competition from them was starting to kick our butts.
The US had a booming economy thru the 1950s because all of its industrial competitors were bombed out rubble during that time. Marshall Plan (and its Japanese equiv) was directed at two things: infrastructure and core productive output industries to kickstart the recovery. Most of it’s value wasn’t even in money but rather technical knowledge transfer as the US was the China of that time when it came to manufacturing tech. This is how the Japanese came to learn if Deming’s methods and followed them religiously.By the 1960s Europe & Japane had mostly recovered and competition from them was starting to kick our butts.
Somali immigrant makes more because of Baumol’s Cost Disease. This is the same cause as to why first world symphony performers make more than their third world counterparts despite the fact that heir productivity is the pretty much the same. bit.ly/2xdbqqH
Somali immigrant makes more because of Baumol’s Cost Disease. This is the same cause as to why first world symphony performers make more than their third world counterparts despite the fact that heir productivity is the pretty much the same. bit.ly/2xdbqqH
A barber provides value by removing the time it takes to cut hair, and by eliminating the personal marketing cost of a bad haircut.” Pisa never disputed that. Thing about the Philippines is that the cost of manufactured goods are higher than local service labor vs the opposite in the US. Like laundry washing machines. Cheaper to hire a maid in the Phils to wash your clothes by hand for a year than to buy a laundry washing machine to do it. This is something foreigners do not get until they’ve been to the Phils for a while/often.
A barber provides value by removing the time it takes to cut hair” and by eliminating the personal marketing cost of a bad haircut.””Pisa never disputed that. Thing about the Philippines is that the cost of manufactured goods are higher than local service labor vs the opposite in the US.Like laundry washing machines. Cheaper to hire a maid in the Phils to wash your clothes by hand for a year than to buy a laundry washing machine to do it. This is something foreigners do not get until they’ve been to the Phils for a while/often.”””
Same here! We keep the family (the entire family…not just her parents) afloat. Just bought the eldest niece a cell phone (why? because my wife said she needed it) and now all three others are jelous and want one of their own.
Same here! We keep the family (the entire family…not just her parents) afloat. Just bought the eldest niece a cell phone (why? because my wife said she needed it) and now all three others are jelous and want one of their own.
God bless the drug trade. The drug trade made it possible for you to be on the crack high that were on when you wrote that comment.
God bless the drug trade. The drug trade made it possible for you to be on the crack high that were on when you wrote that comment.
Good. They can pay for Global Warming Mitigation w/o a dime from the West. Works for me!
Good. They can pay for Global Warming Mitigation w/o a dime from the West. Works for me!
Except we have minimum wage, in a fair world a somali chef would make no more working in Somalia than he would make in the US. He would move to the US, live in a hut and piss in a hole and work for pennies while living in the US This is because the true economic value of a chef is pennies. In a ideal world we would deport low skill service workers, replace them with Somalis willing to work for pennies and piss in a hole There would be no minimum wage, no borders If the somali wants more money he gets replaced by another desperate somali willing to work for 50 cents a day. So where is this excess value coming from? the somali is not magically cooking more food or better food when he comes to the US. The extra value comes from siphoning off other workers with higher wages and higher skills via minimum wage laws and immigration laws. The somali steals value by getting free infrastructure like plumbing, electricity etc.. that his ancestors did not build This is value transference On the other hand for jobs that are truly free market that can cross borders and already pay well above minimum wage, like for quality programmers (I’m talking google level programmers) they make the same whether they live in China or the US or Somalia. A quality programmer could easily move to Somalia, and get programming contracts for specific programming problems and make as much had he lived in the US
Except we have minimum wage in a fair world a somali chef would make no more working in Somalia than he would make in the US. He would move to the US live in a hut and piss in a hole and work for pennies while living in the US This is because the true economic value of a chef is pennies. In a ideal world we would deport low skill service workers replace them with Somalis willing to work for pennies and piss in a hole There would be no minimum wage no bordersIf the somali wants more money he gets replaced by another desperate somali willing to work for 50 cents a day. So where is this excess value coming from? the somali is not magically cooking more food or better food when he comes to the US. The extra value comes from siphoning off other workers with higher wages and higher skills via minimum wage laws and immigration laws. The somali steals value by getting free infrastructure like plumbing electricity etc.. that his ancestors did not build This is value transference On the other hand for jobs that are truly free market that can cross borders and already pay well above minimum wage like for quality programmers (I’m talking google level programmers) they make the same whether they live in China or the US or Somalia. A quality programmer could easily move to Somalia and get programming contracts for specific programming problems and make as much had he lived in the US
As a taxpayer you will pay more taxes to pay for the unemployed American who had his job taken by a Filipino barber willing to work for a pittance since it is a fortune in his home country. This means you pay higher taxes, while the business owner benefits, the Filipino benefits and the unemployed American gets hurt. There is in addition a net economic negative for the US and a Net positive for the Phillipines. Net economic negative for the American taxpayer and unemployed, Net positive for immigrant and business owner
As a taxpayer you will pay more taxes to pay for the unemployed American who had his job taken by a Filipino barber willing to work for a pittance since it is a fortune in his home country. This means you pay higher taxes while the business owner benefits the Filipino benefits and the unemployed American gets hurt. There is in addition a net economic negative for the US and a Net positive for the Phillipines. Net economic negative for the American taxpayer and unemployed Net positive for immigrant and business owner
Unemployment rate is 4%, but the number is meaningless since it only includes people who are actively looking for work. And lumps in seasonal work like census workers who only work for a month. The key metric to look at is Employment population ratio which is the total number of jobs divided by total number of working age people We have around 129 million full time workers, 325 million people and a working population of 243 million. What if we eliminate people enrolled in college? We currently have 20 million per year in college. So working population = 223 million. Lets take out the children too from 16-18 that’s another 20 million. 203 working population But wait this 203-129 million could equal housewives and disabled people But we can look at previous years google “Employment population ratio us” In 1970’s the ratio was around 70%, which means that 70% of the working population had jobs. In 2013 this number fell to 67% and in 2018 this number fell to 60% So yes by importing labor we are indeed sending more americans to the welfare rolls.
Unemployment rate is 4{22800fc54956079738b58e74e4dcd846757aa319aad70fcf90c97a58f3119a12} but the number is meaningless since it only includes people who are actively looking for work. And lumps in seasonal work like census workers who only work for a month. The key metric to look at is Employment population ratio which is the total number of jobs divided by total number of working age peopleWe have around 129 million full time workers 325 million people and a working population of 243 million.What if we eliminate people enrolled in college? We currently have 20 million per year in college.So working population = 223 million. Lets take out the children too from 16-18 that’s another 20 million. 203 working population But wait this 203-129 million could equal housewives and disabled peopleBut we can look at previous yearsgoogle Employment population ratio us”” In 1970’s the ratio was around 70{22800fc54956079738b58e74e4dcd846757aa319aad70fcf90c97a58f3119a12}”””” which means that 70{22800fc54956079738b58e74e4dcd846757aa319aad70fcf90c97a58f3119a12} of the working population had jobs. In 2013 this number fell to 67{22800fc54956079738b58e74e4dcd846757aa319aad70fcf90c97a58f3119a12} and in 2018 this number fell to 60{22800fc54956079738b58e74e4dcd846757aa319aad70fcf90c97a58f3119a12}So yes by importing labor we are indeed sending more americans to the welfare rolls.”””
Your first statement is simply not true. A barber provides value by removing the time it takes to cut hair, and by eliminating the personal marketing cost of a bad haircut. If his customers’ time and image are worth more, so is his time. Following your assertion to its logical conclusion would mean all service jobs would disappear as a society achieves moderate standard of living; in reality the opposite is true because customers’ time becomes too valuable. Skill services like cooking and barbering, which require a learning curve and some capital investment, become proportionally more valuable as a society becomes richer.
Your first statement is simply not true. A barber provides value by removing the time it takes to cut hair and by eliminating the personal marketing cost of a bad haircut. If his customers’ time and image are worth more so is his time. Following your assertion to its logical conclusion would mean all service jobs would disappear as a society achieves moderate standard of living; in reality the opposite is true because customers’ time becomes too valuable. Skill services like cooking and barbering which require a learning curve and some capital investment become proportionally more valuable as a society becomes richer.
Given that the U.S. unemployment rate is about 4%, and has been under 6% for 4 years, importing labor doesn’t seem to be too dire a threat. One can argue the economy grows when poorer people have more money, since they by necessity will spend it, keeping it in circulation. Rich people however, will keep a portion tied up in real estate, bullion and art, where it is sequestered from the economy. The concept of the Marshall Plan after WWII was to essentially give money to Europe to rebuild after the extreme devastation there. This helped lift the economy for everybody, and the U.S. had a booming economy all thru the 1950’s, despite giving away over $12 billion in 1950 dollars.
Given that the U.S. unemployment rate is about 4{22800fc54956079738b58e74e4dcd846757aa319aad70fcf90c97a58f3119a12} and has been under 6{22800fc54956079738b58e74e4dcd846757aa319aad70fcf90c97a58f3119a12} for 4 years importing labor doesn’t seem to be too dire a threat.One can argue the economy grows when poorer people have more money since they by necessity will spend it keeping it in circulation. Rich people however will keep a portion tied up in real estate bullion and art where it is sequestered from the economy.The concept of the Marshall Plan after WWII was to essentially give money to Europe to rebuild after the extreme devastation there. This helped lift the economy for everybody and the U.S. had a booming economy all thru the 1950’s despite giving away over $12 billion in 1950 dollars.
I think it should be North Africa/Middle East. Looks like a copy & paste error.
I think it should be North Africa/Middle East. Looks like a copy & paste error.
Lucky ones don’t have to go to the Middle East.
Lucky ones don’t have to go to the Middle East.
Economy is not a zero sum game. Whatever immigrants lawfully earn is distributed in their country of residence as well, in the form of taxes and living expenses. Besides the more money moves around, the more the others will have to buy your stuff and make you richer. Also the richer the poor become, the less incentive they will have to come (except as tourists).
Economy is not a zero sum game. Whatever immigrants lawfully earn is distributed in their country of residence as well in the form of taxes and living expenses. Besides the more money moves around the more the others will have to buy your stuff and make you richer. Also the richer the poor become the less incentive they will have to come (except as tourists).
And any rational person can see that this needs to end A Filipino barber or line cook doesn’t produce more when he moves from the Phillipines to the US His wages increase because he is transferring wealth from a wealthier country by cutting the hair of wealthier people and cooking for wealthier people in a wealthier country. And whatever little he sends back becomes a fortune thru exchange rates. Instead of cycling the money back into the US that money now goes to the Phillipines and cycles there instead. The main effect of importing 3rd world labor is that poorer countries are siphoning our wealth, while putting Americans out of work.
And any rational person can see that this needs to endA Filipino barber or line cook doesn’t produce more when he moves from the Phillipines to the US His wages increase because he is transferring wealth from a wealthier country by cutting the hair of wealthier people and cooking for wealthier people in a wealthier country. And whatever little he sends back becomes a fortune thru exchange rates. Instead of cycling the money back into the US that money now goes to the Phillipines and cycles there instead. The main effect of importing 3rd world labor is that poorer countries are siphoning our wealth while putting Americans out of work.
God bless the CCP, the CCP has been the worlds only competent government in the past 20 years and will be responsible for uplifting China, Africa and South America
God bless the CCP the CCP has been the worlds only competent government in the past 20 years and will be responsible for uplifting China Africa and South America
Why the division between Sub-Saharan Africa and “North America”? I assume it must be a typo.
Why the division between Sub-Saharan Africa and North America””? I assume it must be a typo.”””
There are many Filipinos that work in the Middle East and in America that send money home to their families. This is also true of other countries.
There are many Filipinos that work in the Middle East and in America that send money home to their families. This is also true of other countries.
Wife’s family in PH is middle class entirely due to remittances.
Wife’s family in PH is middle class entirely due to remittances.
I am forced to admit, Pisa: When you are right…you are right.
The US had a booming economy thru the 1950s because all of its industrial competitors were bombed out rubble during that time.
Marshall Plan (and its Japanese equiv) was directed at two things: infrastructure and core productive output industries to kickstart the recovery. Most of it’s value wasn’t even in money but rather technical knowledge transfer, as the US was the China of that time when it came to manufacturing tech. This is how the Japanese came to learn if Deming’s methods and followed them religiously.
By the 1960s, Europe & Japane had mostly recovered and competition from them was starting to kick our butts.
Somali immigrant makes more because of Baumol’s Cost Disease. This is the same cause as to why first world symphony performers make more than their third world counterparts despite the fact that heir productivity is the pretty much the same.
bit.ly/2xdbqqH <-- Baumol's Cost Disease
“A barber provides value by removing the time it takes to cut hair, and by eliminating the personal marketing cost of a bad haircut.”
Pisa never disputed that.
Thing about the Philippines is that the cost of manufactured goods are higher than local service labor vs the opposite in the US.
Like laundry washing machines. Cheaper to hire a maid in the Phils to wash your clothes by hand for a year than to buy a laundry washing machine to do it. This is something foreigners do not get until they’ve been to the Phils for a while/often.
Same here! We keep the family (the entire family…not just her parents) afloat. Just bought the eldest niece a cell phone (why? because my wife said she needed it) and now all three others are jelous and want one of their own.
God bless the drug trade. The drug trade made it possible for you to be on the crack high that were on when you wrote that comment.
Good. They can pay for Global Warming Mitigation w/o a dime from the West.
Works for me!
Except we have minimum wage, in a fair world a somali chef would make no more working in Somalia than he would make in the US.
He would move to the US, live in a hut and piss in a hole and work for pennies while living in the US
This is because the true economic value of a chef is pennies.
In a ideal world we would deport low skill service workers, replace them with Somalis willing to work for pennies and piss in a hole
There would be no minimum wage, no borders
If the somali wants more money he gets replaced by another desperate somali willing to work for 50 cents a day.
So where is this excess value coming from? the somali is not magically cooking more food or better food when he comes to the US.
The extra value comes from siphoning off other workers with higher wages and higher skills via minimum wage laws and immigration laws.
The somali steals value by getting free infrastructure like plumbing, electricity etc.. that his ancestors did not build
This is value transference
On the other hand for jobs that are truly free market that can cross borders and already pay well above minimum wage, like for quality programmers (I’m talking google level programmers) they make the same whether they live in China or the US or Somalia.
A quality programmer could easily move to Somalia, and get programming contracts for specific programming problems and make as much had he lived in the US
As a taxpayer you will pay more taxes to pay for the unemployed American who had his job taken by a Filipino barber willing to work for a pittance since it is a fortune in his home country.
This means you pay higher taxes, while the business owner benefits, the Filipino benefits and the unemployed American gets hurt.
There is in addition a net economic negative for the US and a Net positive for the Phillipines.
Net economic negative for the American taxpayer and unemployed, Net positive for immigrant and business owner
Unemployment rate is 4%, but the number is meaningless since it only includes people who are actively looking for work. And lumps in seasonal work like census workers who only work for a month.
The key metric to look at is Employment population ratio which is the total number of jobs divided by total number of working age people
We have around 129 million full time workers, 325 million people and a working population of 243 million.
What if we eliminate people enrolled in college? We currently have 20 million per year in college.
So working population = 223 million. Lets take out the children too from 16-18 that’s another 20 million. 203 working population
But wait this 203-129 million could equal housewives and disabled people
But we can look at previous years
google “Employment population ratio us” In 1970’s the ratio was around 70%, which means that 70% of the working population had jobs. In 2013 this number fell to 67% and in 2018 this number fell to 60%
So yes by importing labor we are indeed sending more americans to the welfare rolls.
Your first statement is simply not true. A barber provides value by removing the time it takes to cut hair, and by eliminating the personal marketing cost of a bad haircut. If his customers’ time and image are worth more, so is his time. Following your assertion to its logical conclusion would mean all service jobs would disappear as a society achieves moderate standard of living; in reality the opposite is true because customers’ time becomes too valuable. Skill services like cooking and barbering, which require a learning curve and some capital investment, become proportionally more valuable as a society becomes richer.
Given that the U.S. unemployment rate is about 4%, and has been under 6% for 4 years, importing labor doesn’t seem to be too dire a threat.
One can argue the economy grows when poorer people have more money, since they by necessity will spend it, keeping it in circulation. Rich people however, will keep a portion tied up in real estate, bullion and art, where it is sequestered from the economy.
The concept of the Marshall Plan after WWII was to essentially give money to Europe to rebuild after the extreme devastation there. This helped lift the economy for everybody, and the U.S. had a booming economy all thru the 1950’s, despite giving away over $12 billion in 1950 dollars.
I think it should be North Africa/Middle East. Looks like a copy & paste error.
Lucky ones don’t have to go to the Middle East.
Economy is not a zero sum game. Whatever immigrants lawfully earn is distributed in their country of residence as well, in the form of taxes and living expenses.
Besides the more money moves around, the more the others will have to buy your stuff and make you richer. Also the richer the poor become, the less incentive they will have to come (except as tourists).
And any rational person can see that this needs to end
A Filipino barber or line cook doesn’t produce more when he moves from the Phillipines to the US
His wages increase because he is transferring wealth from a wealthier country by cutting the hair of wealthier people and cooking for wealthier people in a wealthier country.
And whatever little he sends back becomes a fortune thru exchange rates.
Instead of cycling the money back into the US that money now goes to the Phillipines and cycles there instead.
The main effect of importing 3rd world labor is that poorer countries are siphoning our wealth, while putting Americans out of work.
God bless the CCP, the CCP has been the worlds only competent government in the past 20 years and will be responsible for uplifting China, Africa and South America
Why the division between Sub-Saharan Africa and “North America”? I assume it must be a typo.
There are many Filipinos that work in the Middle East and in America that send money home to their families. This is also true of other countries.
Wife’s family in PH is middle class entirely due to remittances.