Labor Market Flexibility
Categories: Econ
Just how limber is the labor market?
Labor market flexibility looks at how flexible firms are in hiring, firing, setting hours, and setting working conditions.
Why would they be less limber, you ask? Because of laws and regulations. The fewer regulations are, the higher the labor market flexibility. Things like minimum wage, safety regulations, child labor laws, and labor unions can all make the labor market a bit less...bendy.
Labor market flexibility can be controversial. Those in favor of a less flexible labor market point out things like...maybe the kids should be in school instead of factories, and maybe those dudes building skyscrapers should be wearing helmets and getting paid a bit more. Those in favor of a more flexible labor market point out that the unemployment rate could be lower, and GDP would be higher. One thing is clear: usually those on either side of the labor market flexibility debate are not very flexible themselves (and we don’t mean in the bedroom...though probably not there, either, we’d imagine).
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Finance: What does it mean to "scale"?57 Views
Finance allah shmoop What does it mean to scale Well
here's a squid eyeball from space fifty miles away and
here's a squid eyeball from our boat the pesca squid
alia's from a mile away and here's a squid eyeball
from the view of our iphone we just dropped in
the water when the squids when right beneath the boat
scaring the crap out of us literally at one scale
we could barely see the ocean At another scale We
saw way too much eye ball scale and business has
the same kind of dramatic effect as operations come into
play That is it's One thing to serve lemonade drinks
to one hundred people a week It takes one stand
a permit grocery store visits worth of supplies it's completely
Another thing Toe serve a million drinks a week for
the latter You need infrastructure trucks storage and armies of
servers to you know serve Yeah that's what they do
someone's gotta get lemonades to the people So when a
company scales it means that they have gone from a
modest few million dollars of sales to sales of maybe
one hundred million and then a billion Some like that
The skill set for the former is a vastly different
set than for the ladder and some people are able
to do both Howard schultz founder and ceo of starbucks
We're looking at you well starbucks started off is just
one store in seattle in like five minutes later there
were a gazillion of them all over the world thinking
of coffee in any language So yeah that's How a
company scales from you little toe Big big Incidentally you'll
want to stay off the scale if you consume venti
caramel frappe with whip on a daily basis but on 00:01:44.897 --> [endTime] there so good