Saturday, May 9
Unemployment is at scary levels, it seems. But, hey, that’s not so bad for everyone.
If actual U.S. unemployment is around 20%, as some at the Labor Department admit, employers will have no problem filling low-wage jobs. Those recently enacted laws mandating a $15 minimum wage? Fuggetaboutit. They’ll be undercut by the underground-economy reality.
And consider the other evils of prosperity. When demand is high for goods and services, suppliers can more easily raise prices—and that can mean inflation across the economy. When raw materials are eagerly dug and mined, when the seas are plundered of fish, and when forests and jungles are stripped of their trees and wildlife, the planet comes under ever greater pressure. In fat times, stores are crowded, highways are crammed with traffic, and the skies are darkened with pollution. Recession can be a cure for all such woes.
But will some of today’s unemployment be permanent? Already a lot of people had lost permanent jobs and had only marginal slots within the so-called “gig economy,” where you make do with one small project after another. I know many such people—and I myself have taken on several such projects in the past 10 years. Gig posts can be eliminated at the drop of the hat.
On top of all this, technological job displacement is on the rise. One example: A number of sources, including the Institute for Social Research and Data Innovation at the University of Minnesota, point toward job loss resulting from only one labor-saving innovation, driverless vehicles. In a majority of U.S. states, the most common job is truck driving.
Take those jobs away, and the argument for a guaranteed annual income becomes absolutely compelling. Come back, Andrew Yang!
No matter what anyone says, East End guesthouses are anticipating the summer season. The East Hampton Star has interviewed management at Baker House 1650 and other swank hostelries and found them ready to reopen. “The new must-have amenities will include face masks made from luxurious fabric, chic dispensers for hand sanitizer, body temperature scanners, aesthetically pleasing dividers to ensure people maintain six feet of social distance, and other items that allow people to feel safe and pampered,” says The Star.
Common spaces will be cleaned on an hourly basis, and rooms will get zapped with an ultraviolet light-sanitizing wand. Maybe we could stick that down your throat while we’re at it, eh Mr. President? Shine a light inside the body?
Earlier I ventured out to nearby Maidstone Market, hoping to make up a bit for the shortfall in Peapod’s delivery. Until very recently, you’d go to a window at Maidstone Market and just tell a staffer what you wanted. But suddenly, they’re allowing patrons to come inside the store so long as you’re wearing a face mask. Boy, they had lots of stuff—and boy do you pay for it. I got some cornbread mix, a dozen eggs, and two rolls of antacid—for a measly $11.85. Them that’s got shall get, and them that’s not shall lose.
Tonight’s dinner: Ziti with roasted red pepper, goat cheese, and toasted walnuts, plus a green salad with avocado.
Tonight’s entertainment: the final episodes of The Valhalla Murders.