because if you look at Big Law, investment banking, or private equity, there are a lot of highly-educated Americans who are willing to work as hard as anyone on earth.
so it's got to be something about TSMC's recruiting pipeline, or perhaps what motivations the Americans who get educated for the skills they need have, rather than specifically American laziness.
The real theme of the post-08 crash is "no one wants to pay americans anymore". And it's only been spreading from industry to industry as the billionaires figure out how to cut american labor but benefit from american consumerism.
America does have cost disease, but it’s from more than just politicians spending too much. It’s also things like NIMBYs restricting housing supply or the insane bureaucratic explosion in health care.
There are no solutions; only trade-offs. And the US, like many first world countries, has picked trade-offs that raise the average COL.
We could arrest pretty much all cost of living growth if all renters (both businesses and individuals) just decided not to continuously agree to pay higher prices for the same land/apartments/buildings.
Yes wages might go up (someone who can use Sharepoint[0] is probably more efficient than someone who can use a physical filing system) but you need far fewer people to do it. So costs can still go down.
> We could arrest pretty much all cost of living growth if all renters (both businesses and individuals) just decided not to continuously agree to pay higher prices for the same land/apartments/buildings.
I agree that most of cost of living is housing-related, but rent price increases are a function of population increasing faster than housing. That's the thing to address.
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> I agree that most of cost of living is housing-related, but rent price increases are a function of population increasing faster than housing. That's the thing to address.
Yes we should build a whole lot more and it will slow residential price growth, but no, in general this will not actually reduce the cost of living. For example, this doesn't address the increased competition (i.e. increased prices) for commercial spaces, which gets baked into every coffee, garment, or meal you purchase.