Quote:
Originally posted by Tyrone_Slothrop
In any event, I think the effect on average working people is more significant, as a matter of the commonweal, than the effect on the owners of capital. You probably think that what's good for the capitalists is ipso facto good for the average Joe.
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Let's step back a moment. Anytime you add jobs, it is good for working people. So the fact that it was not as many jobs as expected does not really alter than. What it does alter is company (i.e., employer) valuations, which in turn alters incentives.
So, what's good for EMPLOYMENT PROVIDERS is good for the EMPLOYMENT SEEKERS. I don't look at this in terms of increasing stockholders' wealth, I look at this in terms of valuations and company's being able to raise cheap money, which in turn allows them to expand, which in turn allows them to HIRE EMPLOYMENT SEEKERS.
But this is probably far to elementary for someone as schooled in finance/economics as you.
