/biz/ - Business & Finance

>>19469403
>China doesn't have power over the US
you gotta be over 18 to use 4channel. they've been waging asymmetric war against the US for over 30 years and are ready to fight

>In fact, nothing can predict the future
>the US would win in this scenario
lol, do tell us the parameters of this simulation you ran

talk about using your head, pull yours out of your ass. say AWWW and get spoon fed this chart. notice the date of the divergence

>>14680368
>lower wages

>>1622773
1 ) The core desire of increased wages is to correct what's wrong with this image.

The reality is that this image is the reality in the USA, therefore yes we can expect inflation.

If you study countries that aren't the USA, you'll find that despite considerably higher wages and even socialized healthcare, costs aren't proportionally inflated. They actually have, even after adjusting for taxes and costs of living, a higher comparative minimum wage than we do in terms of cash-in-pocket spending power.

The real core problem is the corporate culture that evolved from public shareholders and schools of business centered about quarterly profits. Now more than ever you can expect companies to offload the increased costs.

The assumed benefit to companies is that their workers would actually give a fuck. But there's this cycle of workers not caring because wages are shit, therefore companies don't care because workers are shit and fuck that we'll just min-max short term profits for the shareholders.

Hypothetically under an ideal marxist state, the "company" is merely an AI serving as the ATM interface between workers providing goods/services and the people who buy it. Realistically, the company is an animal who must put it's own survival first, and this has gotten pretty fucking bad in the USA.

Ideally wages increase, and the inflation is less than 1:1 proportional, which would correct the flatline wages in the image.

Though yes, I am pessimistic about markets becoming more humanitarian rather than less.

2) Wages must be increased regardless at some point eventually. Inflation continues regardless of a frozen minimum wage, which fucks over minimum wage workers. At some point you've got to bump it up to keep with baseline inflation, otherwise the bottom class will drown and then take the entire economy with them when all foundational jobs stop functioning.

Minimum wage when created was 25 cents an hour. Obviously it could not stay that until today.

>>1316280

China has been capitalistic since at least the mid 70's (quite possibly earlier; at the very least, they never made any real attempt to institute any sort of worker democracy or bottom-up collectivization).

But, even the worst of these so-called "socialist states" tend to have far superior healthcare systems, schools, housing, pay equity, etc.

Which means that the very IDEA of a socialist society, even when it isn't implemented properly, is enough to dramatically raise the standard of living for a given population. Contrast with the US, where socialism remains a dirty word, and, as a result, we have one of the most unequal societies in the industrialized world.

>at start of academic year was interviewing for prestigious internships that oxbridge/imperial students would've loved to have
>failed tonnes of interviews
>am now going to have a big 4 audit internship interview for this summer

I don't want to start my career there but how good of an educational experience would this be for me considering the fact that I'm an engineering student with no knowledge of finance?

Despite failing S&T internship interviews, I know in those you don't do much more than get coffee, so I'm looking on the brightside (although I now have no desire for any career - I'm not sure if any "prestigious" career path is worth the hype).

What's the reason for this /biz/?

>>298018
>How am i not going to see the benefits of a teleporter? now shipping costs next to nothing. it costs next to nothing to travel across the world. John has made himself rich but by extension the entire world richer. just as the invention of the car made everyone richer.

Look at the graph. This is a period where the computer and the internet were introduced into the workplace and revolutionized the way we process information. Yet workers haven't seen zip, zero, nada of that income rise.


>Okay explain to me how someone becoming insanely wealthy keeps me from becoming wealthy or well off myself?
>>297745

In higher unequal societies, fathers tend to produce poorer sons.

Why? Capital concentration. Its hard to build yourself a factory when all the land is owned by some guy who inherited it.