Profits are maximized by getting rid of the older, higher cost (wages & health care) employees and hiring younger lower cost ones. Pretty standard capitalism.
Sent from Yahoo Mail for iPhone On Monday, February 14, 2022, 8:05 AM, Seymour J Metz <sme...@gmu.edu> wrote: No, capitalism is designed to maximize profits. Out of control speculation has shifted the emphasis to cash flow, which would have appalled Adam Smith. What happens in a rational market is that employees don't give raises unless there is a labor shortage, and that employers try to keep productive workers. This is especially true when they've spent a lot of money on training. -- Shmuel (Seymour J.) Metz http://mason.gmu.edu/~smetz3 ________________________________________ From: IBM Mainframe Discussion List [IBM-MAIN@LISTSERV.UA.EDU] on behalf of Bill Johnson [00000047540adefe-dmarc-requ...@listserv.ua.edu] Sent: Monday, February 14, 2022 7:59 AM To: IBM-MAIN@LISTSERV.UA.EDU Subject: Re: Holy Moly ... I didn’t say YOU pushed them out the door. The cycle of replacing higher priced workers with lower cost ones always happens. Exactly what capitalism is designed to do. Sent from Yahoo Mail for iPhone On Monday, February 14, 2022, 7:55 AM, Seymour J Metz <sme...@gmu.edu> wrote: When I was young, I worked with older employees; I did not push them out the door. Further, there are legal limits on age discrimination. What we are seeing is the triumph of cash flow over profits, and it is not what capitalism does in a rational environment, any more than the gulag is what socialism does. In fact, there have been times and places where capitalism discriminated against younger workers and, as above, that was not intrinsic to capitalism. -- Shmuel (Seymour J.) Metz http://mason.gmu.edu/~smetz3 ________________________________________ From: IBM Mainframe Discussion List [IBM-MAIN@LISTSERV.UA.EDU] on behalf of Bill Johnson [00000047540adefe-dmarc-requ...@listserv.ua.edu] Sent: Monday, February 14, 2022 7:43 AM To: IBM-MAIN@LISTSERV.UA.EDU Subject: Re: Holy Moly ... When we were young, we helped usher out older workers & we didn’t really think or care about it. Now that it’s our turn in the ageist barrel, we are shocked & dismayed. As Steve said, not really surprising. This is exactly what capitalism does. Sent from Yahoo Mail for iPhone On Monday, February 14, 2022, 7:36 AM, Steve Horein <steve.hor...@gmail.com> wrote: Not really surprising, but I did not see much empathy for those older employees (or IBM in general) in the comments of this topic on reddit: https://secure-web.cisco.com/1dfMy-SfHe1W2vtmpin7YZFmlHchVzEsEnrLinBorh28FKFlMXYGVvu6XH39F0mXTmI_0EEDnePoRd59BgGFUYlInDZj4cS4Lah_KXFSDtt4ROhIKGRu4NEQ5PP3UsGQjqFHpdEYswnDm9LBxXAamuNg9S1GEUV5Xd75UDlGGgedxhOCZhv37kD5OHRnPJfuTlH207FfjDimbiCt9oGHke9YUzhL3BUE28iRAQL7aVI42XlDOVPwLng4LOEppKFyHha1mJtpHDKiZ_-ZsCk_iAB127QAl8hxn5x3mEFA8jNKMudxxjJlZuA1BG3Zjb6tI6ShXov17AD0rzHnNdow0wwrSm3CEnsajFcU_0x_NwVOVg6Q0x_3ViP6uVuFseE31b9B74gWpZsDmQ8JOyH4adN--CvB4KrmojXi7pmufHIYZ5US2wvg1DMwEV8qfoPFgf1sjdkWwdFJ_1xB4J2iepA/https%3A%2F%2Fwww.reddit.com%2Fr%2Ftechnology%2Fcomments%2Fsrq7im%2Fibm_executives_called_older_workers_dinobabies%2F On Mon, Feb 14, 2022 at 5:12 AM Joe Monk <joemon...@gmail.com> wrote: > > https://www.nytimes.com/2022/02/12/business/economy/ibm-age-discrimination.html > > "Another email by a top executive, appearing to refer to older workers, > mentions a plan to “accelerate change by inviting the ‘dinobabies’ (new > species) to leave” and make them an “extinct species.” > > A third email refers to IBM’s “dated maternal workforce,” an apparent > allusion to older women, and says: “This is what must change. They really > don’t understand social or engagement. Not digital natives. A real threat > for us.” > > Joe > > ---------------------------------------------------------------------- > For IBM-MAIN subscribe / signoff / archive access instructions, > send email to lists...@listserv.ua.edu with the message: INFO IBM-MAIN > ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to lists...@listserv.ua.edu with the message: INFO IBM-MAIN ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to lists...@listserv.ua.edu with the message: INFO IBM-MAIN ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to lists...@listserv.ua.edu with the message: INFO IBM-MAIN ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to lists...@listserv.ua.edu with the message: INFO IBM-MAIN ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to lists...@listserv.ua.edu with the message: INFO IBM-MAIN ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to lists...@listserv.ua.edu with the message: INFO IBM-MAIN
