Just from what I see in my company, and friends my age, it's full of people with no skills, doing mindless jobs that the company doesn't actually need. Most of them only do like 1 hour of real work a day, browse youtube and reddit for the rest of the day. If they were all laid off, the ONLY thing they can do is look for a similar job to browse surf the internet at. No skills whatsoever. Some of them can't even feed themselves or clean their houses. Most my male peers have no idea how to change their own oil or jack up their car. Do you see a crisis in 10-20 years? I sure don't see this lasting long.
Where do you work? I may want to apply. I'm getting tired of trading during the day and then staying until midnight to finish the work I didn't do between 9:30 and 4.
It's not just my company. I know people who get paid more and more, and do less and less every year. This was my coworker one day. No he's not fixing anything, he passed out on painkillers
wow, reading this is shocking -- because I thought I was the only person who had a job like this! . but seriously, I put in about 5/8 hours effort and the rest are randomly logging into IB when i'm not busy or reading some annual report. I know a couple other people at my company who are like this, I constantly see them reading yahoo articles or commenting on facebook pictures. I'm not sure when it will happen, but this country and world needs to stop pretending that capitalism still needs to exist. We have enough resources and capital to build what we need and enough gifted/autistic people to progress our technology and civilization for more than just greed reasons. Also, I feel like most of the countries problems are related to the stock market. I think the stock market (more so than futures or currencies) is evil because it creates bad incentives and short term decisions that don't benefit our nation in the long run. Off the top my head: -shareholders (short term focused would rather sell all assets and reduce operating expenses by laying people off just to get a slightly higher dividend or buyback in the year) -management (gives in to the short term demands of the board and shareholders in order to keep their mid 7 figure low 8 figure salary- where else can you get paid like this?) -Little incentive to build R&D (I have checked, most companies that put heavy cash flow into R&D instead of buyback/dividends do not perform well until that R&D materializes into something useful and if that can't be spelled out with EPS or Revenue growth then forget it your stock will get a weak ass market multiple)
Yes. As a European living in the USA it scares me how many people are just wasting hours and think they have a hard time at work. It's because the USA is cheap that this still can go on. Europe is expensive and is much more optimized because of this. For a job to be done in Europe it's heavily automated or with a minimum of staff working very effectively and very fast. In the USA it's usually slower, older technology, less innovation and lower quality but they get away with it because everything is cheaper (taxes, labor, energy, ...) Many European countries have huge debts and its a big problem. Many EU countries have problems with deficits of 3 to 4% of GDP. USA has a deficit of more than 7% and a growth of 2%. You could say that there is no growth in the USA now, since it's inputting 7% a year in the economy resulting in a growth of only 2%.
Just because you're a lazy piece of crap, doesn't make capitalism obsolete. Do you think the cab driver that hauls you around, or the restaurant worker that cooks your food, or the builder that constructs your house, or the dry cleaner that presses your slacks, or the guy at best buy that sells you a TV (and on and on and on) provide services because they are gifted? No, they are capitalizing on a need that you have. There are jobs to be done on this planet, because the free market has determined that there is a need for them. Regardless of the fact that you hate your job, or are too lazy to work, or at least too pathetic to find a different career, doesn't make work obsolete.
not sure what dimension you work in. In mine we need IT folks. For Example: I had a DBA position to fill in ST Louis a while back and didn't get a single applicant.....after 4 mos I lost the opening cause I couldn't fill it. That how finance dept works. Cant fill it, guess you didn't really need it. Pay was 85-100K. In NY, only applicants are visa holders from India. Folks who bitch about no jobs should take a couple online courses, get certified w a vendor like MSFT or ORCl and start at $70K plus. Hello its 2013.
You beat me to it. Well said. The guy admittedly only works 5 hours a day and spends the rest jerking off and then blames the stock market and capitalism for being a loser. Typical liberal. Drag everyone down to his level instead of working hard and smart to move up.
From the other side that I left in 2005. The company had a department of about 1000 IT folks. I was a middleware infrastructure expert and a team leader for the highest availability applications we had. Many of us were pushed out in our fifties because they wanted younger folks, and to fill secret hiring quotes for "disadvantaged folks", filling out endless reports on what we did all day long and creating spreadsheets. The problem is that what I have in my head was learned in many different jobs as a generalist and will not be learned now since few people mentor and train. Those businesses demanding talent destroy it through their own short-sighted short term vision and 3 month objectives in my view. I marvel at the talent of some of those who trained me now that I understand how good some of them were when I was young. It has always amazed me that after spending oodles of time and money to hire talented people, companies proceed to attempt to micromanage their efforts instead of setting broad tough goals and letting them accomplish them with guidelines of proper methods and holding them accountable. One starts off as a God and declines steadily until they kick your butt out the door complaining how bad you are. I think administrators (sometimes with very poor level of skills) are destroying the talent pool by managing their spending to three month goals. I used to say, give me 5 people like me and I will build a company that will challenge the best in the industry. The trick is finding 5 hard-working and critical thinking individuals. Just my two cents worth.