CAS EC 102 Lecture 21: Lecture 3.29
13 Apr 2016
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Everyone always talks about creaive disrupion, but it"s over-hyped. Jobs, work, and people low around the world based on economic incenives. Wages go up, people immigrate into country. Businesses want to outsource work from country to cheaper locaion (drives up wages in cheaper locaion) Diicult point = lots of enire types of jobs come & go because of advancing technology, etc. Rented a castle to look over town, rented a carriage and prositutes to fawn over him as he drove through vienna. Went back to try & teach, was snubbed. Told his university colleagues everybody must make sacriices when they asked for a raise. Entrepreneurs create new industries/occupaions, which destroys older companies. Statue of liberty between 2 ciies (manhatan and brooklyn) Why would brooklyn give up their own economic freedom? (tbd in discussion) Data on immigraion comes from homeland security. 1930s immigraion shut of unil ater ww2. 1990s number of people here were allowed to become ciizens.
