Thursday, August 29, 2013

Economy

Another glaring economic fallacy, this time regarding fast food workers.
"Not only are relatively few of them teenagers looking for some pocket money while attending school, but the number of adults working in low-paying part-time jobs against their wishes is rapidly growing."
These people haven't been enslaved into working in jobs against their will. Everybody would rather be a CEO and make millions a year, but that takes skills.

How is it that these fast food employees who don't show up to work are protected?
"Even though they're not in unions, fast-food workers who take part in strikes are generally protected from retaliation by employers. Federal labor law gives all workers the right to engage in "protected concerted activities" to complain about wages, working conditions or other terms of employment.
"It's always been understood that people who fall under this concerted activity umbrella are protected as long as they are protesting not only on their own behalf but on behalf of others as well," said Robert Kaiser, a St. Louis labor law attorney."
This is insane. If they don't work, fire them.

Another glaring economic fallacy about how self-driving cars kill jobs.

Labor participation rate reaches 34 year low.

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