TO: Economics Dept.
FROM: Durian Spice
DATE: 21 July, 2005
I need to understand something.
What happens when Hewlett Packard lays off 15,000 people, and Eastman Kodak lays off 20,000 people, and one huge company buys out another big company and then closes an office and thousands of those workers lose their jobs?
Are there that many other jobs those people can go to?
What does a 50 year old engineer do when hir job is eliminated and still has a mortgage, and kids to take care of, and nobody wants to hire hir because they think its going to cost too much money and the engineer is going to retire in 15 years anyway and why pay a grownup a living wage when you can pay a kid fresh out of college half of what you pay the 50 year old with more experience?
I'm confused here. Does this person just go off to die? Do they get a divorce and have to go move back home with their parents because they have to get a job at Barnes & Noble just to have money for food?
Do we have to make a deal with that guy with the goatee? You know, the one played by Viggo Mortensen
who ripped Christopher Walken's heart out in The Prophecy? wow.. viggo looked awesome as Lucifer, didn't he? Kinda like an evil Aragorn
I just can't make the math work on this equation. Jobs Lost > Jobs available = Folks-R-Fucked
What does it mean when a big company gets swallowed up by a bigger company reducing competition in the marketplace? Does that mean we have less choice than ever before? Does lack of competition drive up market costs and drive down quality?
Please provide information as to where one might find the answers to these questions.
I might have been
asleepabsent that day when this information was being taught.