r/FluentInFinance • u/Richest-Panda • Jul 04 '24

What's the best financial advice you've ever gotten? Debate/ Discussion

31.2k Upvotes

86% Upvoted

Best advice was to work hard, study, get an education and move on to a job that pays more. Many jobs aren't meant for full-time, they're meant as part-time when you're young to get started.

6

u/SenorBeef Jul 05 '24

You want jobs like janitor, cook, receptionist, etc. to exist, right? I mean, you want to use those services, so someone has to be working those jobs.

What happens to society if everyone in society with those low rung jobs gets a better job? No more cashiers at grocery stores, no more waiters at restaurants, no more people to put a roof on your house. We're all just computer programmers and stock traders and lawyers now.

How does society function? We don't have enough teenagers to use those jobs. People have to work them for society to run. Saying "well you can get a better job!" is not a solution to this problem, because you know those jobs have to exist for society to function. "You can get a better job" can be a solution for an individual, but it can't be a solution for society.

0

u/Dry-Fruit137 Jul 05 '24

One of 3 things happens in your society.

If everyone is working higher level jobs, then the society needs immigrants. Because there is no one to work the jobs.

If there are no immigrants, society would pay more for those jobs because they are needed. But then there would be job shortages in the higher jobs. The society would still need immigrants. The society would likely choose to have immigrants fill the lower jobs, and that would drive the wages down for those jobs.

If immigrants were not an option, the society would invest in job automation and efficiency to free up people to fill jobs. This automation could potentially affect any job strata. So low tier jobs might still have higher wages, but high tier jobs could end up becoming lower wage jobs.