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Power of Market Forces

How To Bounce Back After Losing A Job - Tekedia

The power of market forces could be huge, well ahead of mandates, even on wages: 'Even though $7.25 an hour is still the official federal minimum wage, the norm for many lower-paying jobs — particularly in service industries, including restaurants, retail and travel — is becoming $15 an hour. Bloomberg Businessweek notes the pay increases are happening without legislative battles and are due to "market forces, not mandates" as employers compete for talent. Pay levels could even increase beyond benchmarks set by the Biden administration and labor unions, with Amazon already boosting starting pay to $18 an hour.'

While this may be news, it is nothing special. If all the necessary things are place, scarcity of job would no longer be the problem, rather Job satisfaction. I am writing this so Nigeria can take lesson from it.

To get to this level, which Nigeria is far from, first we need market creating innovation that would produce the jobs then the pursuit for personel becomes a the next thing which are allows very easy to get.

All the large amount pushed into the economy via debt has no meaning. Fix the fundamental. Innovate on Regulation, then all the Nation's problem would slide.

 

Good Evening.