Same with age: markets aren’t always as efficient as we think they should be.
It's one thing to say you want to subsidize $group with some sort of legislation because it's moral or better for the broader economy, etc. It's another thing entirely to claim to be forcing any individual company to be acting in its own best interest.
Real markets are neither clearly rational nor clearly optimal.
Rationalizing is the best way to put it.
To prove that age discrimination is rational you would have to show real reasons to prefer younger workers. Showing lower pay is not enough of there are costs. Have to show that the costs are outweighting the benefits. Remember the shape of modern developed nation agree structure.
And secondly, even if keeping the older workers is both rational and optimal for the business it's not clear to me why we should force a company to do it. If the shareholders feel the company is not acting in their best interest there are mechanisms in place for them to deal with that.
And when that irrationality is not just stupid, but also unjust, then we should not put the burden of such stupidity on the victims of the injustice.
If you want to make legislation which subsidizes an older, generally wealthier group of people because you feel it's just, then just say so. If you are doing it because you think it's what's best for the shareholders then say that. Any argument that says it's better for companies to keep the experienced workers is just an argument to maximize the benefit of the shareholders. No legislation is needed there.
It may or may not be a nice side effect that companies end up doing better, but that is not the gist of most arguments around this, and even absent that effect, most proponents would still argue that the unjustness of such discrimination is the primary driver of such legislation.
If you want to say that we are protecting a class that doesn't deserve protection because they are (on average) more wealthy than others, feel free to make that argument on the merits.
>"The market can stay irrational longer than you can stay solvent." -- Schilling.
>And when that irrationality is not just stupid, but also unjust, then we should not put the burden of such stupidity on the victims of the injustice.
In other words the poster believes that age based discrimination is both economically irrational and unjust.
I'm pointing out that it's unknown whether age discrimination is economically rational, but that proponents of age based discrimination laws must believe that it is. Whether it's rational matters, because if it's more economically efficient to put a young person in a worker slot there may be better ways to help the older worker than punishing the employer for not skirting equal employment opportunity regulations.
And the people who need to take care of their families. You keep forgetting that letting these people go has a very severe negative impact on that.
"But you can't come in and make economic arguments about how it's better for the employer because you don't know that."
I'm sure the people who found themselves unable to provide for their families will rest easier knowing the "economics" of it are sound.
If you are worth less in the market but employers are forced to keep you and pay you the same, that is a subsidy.
>I'm sure the people who found themselves unable to provide for their families will rest easier knowing the "economics" of it are sound.
I'm sure the family of the worker who was denied the job they'd be better at than you is not resting easy either.
Because the company is never the one that suffers. Meanwhile, the person they laid off is struggling to feed and house their family.
This is interesting, because you're the first responder to acknowledge that age discrimination is either irrelevant to the success of a business or potentially even beneficial.
I'm not heartless, I'm willing to entertain the idea that we should subsidize a segment of the population that can't compete. I'm not convinced that older workers can't compete though.
We understand that discrimination by race, gender, etc is wrong, as well as age, arguing anything else makes you (ironically) an old-fashioned pariah, haha.
Companies that are not under direct threat, i.e. most can do just fine working sub-optimally. There are hundreds of variables regarding why a company is successful or not. Many work way less efficiently than 5%, and will continue to happily screw folks unless we work together to keep a reasonably level playing field.
You've not been discriminated against yet I gather. I hadn't until recently either, so it's become less than theoretical. Your time will come as well, put out to pasture at the top of your game right when you're trying to put children through college or similar.
Secondly, if older workers need to be subsidized in some way because they're unable to compete there's probably a better way to do so than to punish employers who are unable to skirt labor laws.
You've stabbed at the hilariously backwards logic behind the "employer discrimination" crowd. If a company choses to discriminate against able-bodied people because of factors irrelevant to their performance, that just means more pickings for their competitors.
There's not enough companies out there taking a Moneyball approach out there, and it'll take some major visibility of a booming company that is pretty much preaching how much of a good deal and competitive advantage they have from hiring these people before we might seeing a shift back to it, but the brainwashing of 'younger thinks outside of the box and saves us money!' is strong.
This is why I keep trying to point out that moral arguments are fine. You feel age discrimination is unjust. You feel we should legislatively subsidize a demographic which is usually more wealthy, fine. But if you're going to make an economic argument, that it's better for the employer, then you've lost me. Because I don't believe you know that. And even if you did know that it's unclear why we should legislate it.
Actually, yes. I'd rather they admit it than achieve pretty much the same effect through loophole means.
> And could they even acknowledge this publicly without it negatively impacting their success?
I'm not sure in which way you mean this. Are you presupposing that they would be successful by discriminating by age, or do you mean that the public shouldn't be free to condemn or boycott them for stating what they did (without taking action against them), or do you just mean without being punished by the government for it? I'm okay with the latter.
I'm not presupposing age discrimination would be successful, I'm suggesting that no corporation, economist, or politician would likely be willing to publicly acknowledge that age discrimination is good for business.
The question is, if it could be proven that hospitals who hire more old white American male nurses make less money than hospitals who hire old Mexican female nurses, what differential outcomes would you be willing to accept? Would a company policy discouraging hiring old white men be okay?
There are worse worlds to live in than one in which everyone can do what they want.
IBM didn't, until they did.
Libertarianism only when it suits them.
Umm, yeah? You do have a network of professional contacts whose bosses are constantly hitting up for personal references, don't you? There is still a shortage of qualified tech workers, isn't there? The world didn't just change overnight because IBM is laying some people off.
Okay, you tell me. What social contract do you think should be on offer here? Because it sounds a lot to me like, "Give me everything and hold me accountable for nothing."
Heaven forbid they might have to allow you to train for two weeks for a two year job. Nope, must "hit the ground running."
I'm already kinda leery of taking jobs outside of my specialty. I'm not at the point yet where I won't switch stacks, but I can see it getting there.
Or you can answer with 100% certainty a selection of twenty random questions on the new stack. Because there will always be one other candidate who dedicated their life to it. What you know right this second takes precedence over anything you might learn, even if you could look it up in thirty seconds.
There is a book about "mindsets" I read recently. The growth mindset (teachable) and the fixed (born smart/dumb) mindset. Tech interviews are firmly in the later category, to our detriment.
These aren't the poor and downtrodden we're talking about here. Is it really too much to ask someone with a professional livelihood to build a professional safety net with it if they want safety?
I rather like labor market liquidity, thank you very much. I wish there were more of it.