This isn’t really all that crazy. I watched almost the same thing happen in England in the 80’s. A friend of mine who is a brilliant computer programmer was trying to get a job in England, but he could get a higher salary working in a bank. He moved to the US, but when the same thing happens here, where will you go?
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4 Comments
When everybody becomes a hedge fund manager and food becomes scarce, the price of food will skyrocket. Farmers and grocers will become rich, and all the bankers will switch to being farmers. These things have a way of balancing out.
LOL, I wouldn’t want to eat anything a hedge fund manager grew.
LOL. It isn’t just about food. Will hedge fund managers suddenly start building cars, writing software, or become doctors? We have a huge shortage of doctors — I don’t see that balancing out any time soon.
IK – we have a shortage of primary care doctors. Until we start paying them more than specialists, we may see hedge fund managers becoming dermatologists and pharmacologists but not pediatricians.