{"id":180168,"date":"2017-07-03T20:58:00","date_gmt":"2017-07-04T01:58:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2017\/07\/03\/if-only-classic-economic-theory-could-provide-a-solution\/"},"modified":"2017-07-03T20:58:00","modified_gmt":"2017-07-04T01:58:00","slug":"if-only-classic-economic-theory-could-provide-a-solution","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2017\/07\/03\/if-only-classic-economic-theory-could-provide-a-solution\/","title":{"rendered":"If Only Classic Economic Theory Could Provide a Solution"},"content":{"rendered":"<p>There seems to be much hand wringing over the fact that <a href=\"https:\/\/www.wsj.com\/articles\/labor-shortage-squeezes-real-estate-developers-1498595109?mod=e2twe\">not enough people want to work construction these days<\/a>:<\/p>\n<blockquote><p><span style=\"color: blue;\">About two-thirds of the contractors who are struggling with the labor shortages gripping the construction industry say it has become a challenge to finish jobs on time, according to a new survey.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">More than one-third of contractors said they are being forced to turn work down and 58% said they are putting in higher bids, said the survey sponsored by USG Corp. and the U.S. Chamber of Commerce. Three-quarters of those who said they are having difficulty finding skilled labor said they are simply asking their employees to work harder.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">\u201cBasically they\u2019re just making people work harder as a way to cope,\u201d said Steve Jones, senior director of Dodge Data &amp; Analytics, which was the research partner of USG and the Chamber on the project.<\/span><\/p><\/blockquote>\n<p>If you have a shortage of workers, increase wage and non-wage remuneration to a level where you have enough workers.<\/p>\n<p>This is literally Econ 101.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There seems to be much hand wringing over the fact that not enough people want to work construction these days: About two-thirds of the contractors who are struggling with the labor shortages gripping the construction industry say it has become a challenge to finish jobs on time, according to a new survey.More than one-third of &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[365,392,450,588,393],"class_list":["post-180168","post","type-post","status-publish","format-standard","hentry","tag-business","tag-economy","tag-employment","tag-fail","tag-real-estate"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/180168"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=180168"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/180168\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=180168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=180168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=180168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}