AMERICAN DREAM IS IN DANGER!!! TLDR: Why government need to fix white collar recession asap? * Maintain social stability * Support small business growth * Preserve white-collar income tax revenue * Prevent IP theft through offshoring * Reduce social inequality * Uphold consumer and youth confidence in the American Dream * Prevent birth rate drop How? * Lower interest rates and depreciate the dollar * Increase regulation on AI * Advocate for niche needs * Increase tax credits for domestic R&D * Break up large companies to empower small businesses * Implement stricter data compliance ====================================================================== It has now been 3 years since the onset of the Great White Collar Recession, during which people have become increasingly desperate and hopeless. Some may downplay its significance in light of booming job markets elsewhere, but it's crucial to recognize the substantial risks associated with a White Collar Recession, which can yield significant long-term impacts: * Social Instability and Crash of American Dream: A growing job market, especially in white collar sector is the cornerstone of a thriving society in developed economy. To achieve this, it's crucial to match individuals with roles that suit their qualifications. While meritocracy holds significance, we must acknowledge the rapid pace of technological advancement. As technology evolves, the merit criteria for jobs become increasingly stringent, demanding not only learned skills but also genetic talent. It's imperative to provide meaningful employment opportunities to maintain societal stability. Even more crucially, it can wield significant influence over the future of American society. Also, When a certain technological innovation liberates a large number of labor forces but these labor forces have not been properly placed, hastily applying it will come at a cost. * Diminished Innovation: The wave of job cuts leads companies to adopt a risk-averse stance, hindering their ability to explore and innovate. * Tax Revenue: Maintaining tax revenue is crucial amidst the current national debt situation. As income tax remains a cornerstone of America's revenue sources, it's imperative to recognize the significant contribution of the white-collar sector to US tax revenue. With more white-collar workers facing unemployment, there's a direct impact on tax collection. * Intellectual Property: Offshoring stands as a significant catalyst for white-collar recession. Offshoring your business to another country can greatly diminish your competitive edge, especially in terms of intellectual property. By offshoring to another country, you inadvertently contribute to the development of local talent, ultimately nurturing potential competitors. As their skills improve, America will risk losing the position as a global leader in many areas. * Undermine economic confidence: A multi-year absence of job opportunities within a society can lead to a decline in entrepreneurship and a lack of confidence, which likely lead to the stagnation experienced in some countries over the past three decades. * Rising social inequality: Small businesses falter, allowing larger corporations to expand, potentially leading to a scenario where only a handful of companies control advanced AI without adequate regulation, as seen in the cryptocurrency industry. * Widening the divide between capitalists and laborers: Production side - Robots with artificial intelligence exhibit the "human" aspect by replacing labor; however, on the profit side, robots with artificial intelligence display the "machine" aspect, with profits accruing to capitalists. Thus, a fundamental contradiction arises. In the production process, if businesses pursue profit maximization, they will compare the relative costs of using robots versus hiring human labor for any task. In any task, human labor costing more than robots will not be employed. Intelligent robots are both "human" and "machine"; they represent both labor and capital. Consequently, the mechanism by which capital accumulation affects labor wages is completely altered. Previously, as capital increased, labor became scarcer, resulting in higher wages for laborers; however, now, as capital increases, robots become more abundant, and since robots and workers are substitutes, labor wages are lower and jobs are elongated. * Worsening birth rate: When people lose hope and face limited job opportunities, they have fewer confidence for the future. This leads to increased desperation, further driving down the birth rate. It's even more alarming that many individuals are dismissed from their jobs after returning from maternity leave. Given the detrimental effects of prolonged white-collar recession, what actionable steps can the government take to reverse this trend and reignite the American Dream? - Lower Interest Rates: Lowering interest rates empowers small businesses and startups to compete effectively, thereby preserving the innovation leadership of the USA. - Depreciate Dollar: A depreciation of the dollar can facilitate an increase in exports.The dominance of the USD as a major currency stems from America's geopolitical stability, food security, and energy security. As long as these three pillars remain strong, the USD will continue to thrive even with lower interest rate. - Increase Regulation on AI: Introducing regulations on AI and internet companies addresses a crucial issue: while technology generates supply, it doesn't necessarily create demand, leading to a reduction in job opportunities over time. This situation is compounded by the fact that AI entities often escape accountability, exploiting a legal gap. To rectify this, it's imperative to mandate that companies employing AI also hire compliance and risk professionals to oversee its operations and ensure responsible use. - Advocate for diversity and inclusion: As AI gains traction, economic growth relies increasingly on niche markets. Encouraging individuality fosters a more personalized society, promoting openness and acceptance.The need of catering to diverse needs will creat job opportunities. - Enhance tax credits for domestic R&D (research and development): Increasing the domestic R&D tax credit is beneficial for America as it incentivizes innovation, fosters economic growth, and maintains technological leadership in global markets. - Break up large companies: Splitting up big corporations can prevent them from gaining too much power and forming monopolies. This will allow for more competition and create new possibilities for smaller businesses to thrive. - Implementing stricter data compliance: American data should only be accessed, modified, or managed within the borders of America, safeguarding against the potential threats posed by offshoring, which could compromise national security issue through information leakage and data breaches. Just sharing my thoughts here. The more I think on it, the more evident it becomes that if the white-collar recession isn't resolved promptly, it could severely impact the economy and, more alarmingly, weaken the country's long-term competitive edge. I'd love to hear your thoughts on this as well. https://www.teamblind.com/post/Strategies-for-Overcoming-White-Collar-Recession-and-Job-Market-Crashes-pyDeqdRp
Why government need to fix white collar recession asap?
* Maintain social stability * Support small business growth * Preserve white-collar income tax revenue * Prevent IP theft through offshoring * Reduce social inequality * Uphold consumer and youth confidence in the American Dream * Prevent birth rate drop
How?
* Lower interest rates and depreciate the dollar * Increase regulation on AI * Advocate for niche needs * Increase tax credits for domestic R&D * Break up large companies to empower small businesses * Implement stricter data compliance
======================================================================
It has now been 3 years since the onset of the Great White Collar Recession, during which people have become increasingly desperate and hopeless.
Some may downplay its significance in light of booming job markets elsewhere, but it's crucial to recognize the substantial risks associated with a White Collar Recession, which can yield significant long-term impacts:
* Social Instability and Crash of American Dream: A growing job market, especially in white collar sector is the cornerstone of a thriving society in developed economy. To achieve this, it's crucial to match individuals with roles that suit their qualifications. While meritocracy holds significance, we must acknowledge the rapid pace of technological advancement. As technology evolves, the merit criteria for jobs become increasingly stringent, demanding not only learned skills but also genetic talent. It's imperative to provide meaningful employment opportunities to maintain societal stability. Even more crucially, it can wield significant influence over the future of American society. Also, When a certain technological innovation liberates a large number of labor forces but these labor forces have not been properly placed, hastily applying it will come at a cost.
* Diminished Innovation: The wave of job cuts leads companies to adopt a risk-averse stance, hindering their ability to explore and innovate.
* Tax Revenue: Maintaining tax revenue is crucial amidst the current national debt situation. As income tax remains a cornerstone of America's revenue sources, it's imperative to recognize the significant contribution of the white-collar sector to US tax revenue. With more white-collar workers facing unemployment, there's a direct impact on tax collection.
* Intellectual Property: Offshoring stands as a significant catalyst for white-collar recession. Offshoring your business to another country can greatly diminish your competitive edge, especially in terms of intellectual property. By offshoring to another country, you inadvertently contribute to the development of local talent, ultimately nurturing potential competitors. As their skills improve, America will risk losing the position as a global leader in many areas.
* Undermine economic confidence: A multi-year absence of job opportunities within a society can lead to a decline in entrepreneurship and a lack of confidence, which likely lead to the stagnation experienced in some countries over the past three decades.
* Rising social inequality: Small businesses falter, allowing larger corporations to expand, potentially leading to a scenario where only a handful of companies control advanced AI without adequate regulation, as seen in the cryptocurrency industry.
* Widening the divide between capitalists and laborers: Production side - Robots with artificial intelligence exhibit the "human" aspect by replacing labor; however, on the profit side, robots with artificial intelligence display the "machine" aspect, with profits accruing to capitalists. Thus, a fundamental contradiction arises. In the production process, if businesses pursue profit maximization, they will compare the relative costs of using robots versus hiring human labor for any task. In any task, human labor costing more than robots will not be employed. Intelligent robots are both "human" and "machine"; they represent both labor and capital. Consequently, the mechanism by which capital accumulation affects labor wages is completely altered. Previously, as capital increased, labor became scarcer, resulting in higher wages for laborers; however, now, as capital increases, robots become more abundant, and since robots and workers are substitutes, labor wages are lower and jobs are elongated.
* Worsening birth rate: When people lose hope and face limited job opportunities, they have fewer confidence for the future. This leads to increased desperation, further driving down the birth rate. It's even more alarming that many individuals are dismissed from their jobs after returning from maternity leave.
Given the detrimental effects of prolonged white-collar recession, what actionable steps can the government take to reverse this trend and reignite the American Dream?
- Lower Interest Rates: Lowering interest rates empowers small businesses and startups to compete effectively, thereby preserving the innovation leadership of the USA.
- Depreciate Dollar: A depreciation of the dollar can facilitate an increase in exports.The dominance of the USD as a major currency stems from America's geopolitical stability, food security, and energy security. As long as these three pillars remain strong, the USD will continue to thrive even with lower interest rate.
- Increase Regulation on AI: Introducing regulations on AI and internet companies addresses a crucial issue: while technology generates supply, it doesn't necessarily create demand, leading to a reduction in job opportunities over time. This situation is compounded by the fact that AI entities often escape accountability, exploiting a legal gap. To rectify this, it's imperative to mandate that companies employing AI also hire compliance and risk professionals to oversee its operations and ensure responsible use.
- Advocate for diversity and inclusion: As AI gains traction, economic growth relies increasingly on niche markets. Encouraging individuality fosters a more personalized society, promoting openness and acceptance.The need of catering to diverse needs will creat job opportunities.
- Enhance tax credits for domestic R&D (research and development): Increasing the domestic R&D tax credit is beneficial for America as it incentivizes innovation, fosters economic growth, and maintains technological leadership in global markets.
- Break up large companies: Splitting up big corporations can prevent them from gaining too much power and forming monopolies. This will allow for more competition and create new possibilities for smaller businesses to thrive.
- Implementing stricter data compliance: American data should only be accessed, modified, or managed within the borders of America, safeguarding against the potential threats posed by offshoring, which could compromise national security issue through information leakage and data breaches.
Just sharing my thoughts here. The more I think on it, the more evident it becomes that if the white-collar recession isn't resolved promptly, it could severely impact the economy and, more alarmingly, weaken the country's long-term competitive edge. I'd love to hear your thoughts on this as well.
https://www.teamblind.com/post/Strategies-for-Overcoming-White-Collar-Recession-and-Job-Market-Crashes-pyDeqdRp
好牛逼的总结，就三个字，解除了多少疑惑：white collar recession.
不是所有人都能领的…H1B不能领，领过半年的也不能领了
巨能还
是不是新工作都是低工资的工作？有些地方打两份最低工资的工也不够活得体面啊。
加拿大早死透了，满大街都是三哥三妹