Economic Psychology

Blogroll Me!
Economic Psychology

How and why markets aren't rational. Navigational tips for charting the Bermuda Triangle of human economic behavior.

Listed on BlogShares

This page is powered by Blogger. Isn't yours?

Global Voices Online - The world is talking. Are you listening?
Labor Day: Light a Fire

Labor Day is one of the most important - and disturbing - holidays in the United States.

In so many ways, the history of work in the US is a history of struggle. Historically, the access, the training, and the opportunity to earn a living wage have all been limited to a lucky few. Actually, "luck" is only the luck of the draw: to have been born with a particular gender and hue, and to come from a certain cultural/economic class, get you most of the distance to home plate. Too bad for everyone else -- they are barely visible anyway, most of the time. Most of us - African-Americans, women, those arriving from distant shores as indentured servants - have never seen the fruits of our labors.

Average Unemployment Figures Mean So Little

"Average" Unemployment Numbers Mean so Little.

Increasingly, the experienced, highly skilled, and super-annuated (by which I mean people over 38 years old), are simply put out to pasture the second a) they pass the median salary for their job grade; and/or b) the moment the CFO tells the boss that it can be done 'for economic reasons' without invoking undue legal risk. That they have a wealth of knowledge, skill, judgment, and experience is of no concern to the bean-counters who know how to count bodies, but are inured to the importance of intangibles like resourcefulness and deep knowledge.

That these skilled, experienced, but formerly-employed workers have families, homes, and bills to pay is of no concern to anyone as far as I can tell. That the suicide rate (at $1.6 million per 'successful' completion) is skyrocketing among such people is of no concern either - particularly to the political and economic "leadership" classes - who could do something to rectify the tragedy but won't.

U.S. Suicide Rate Surges to a 30-Year High - The New York Times

Truly, with every passing Labor Day, I feel less like celebrating and more like rioting.

This article, from the August 3, 2016 Wall Street Journal, describes how the self-injurious casting out of people over their mid-thirties hurts businesses:  For Economy, Aging Population Poses Double Whammy 

The Effect of Population Aging on Economic Growth, the Labor Force and Productivity : Link to the full report, from the Rand Corporation and Harvard University.