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Sad that people will focus on the details of this problem but not step back and ask what incentives and macroeconomic conditions created the problem in the firs
by 2devnull 3y ago
Sad that people will focus on the details of this problem but not step back and ask what incentives and macroeconomic conditions created the problem in the first place. We’ll get solutions that are worse than doing nothing, rinse repeat.
- gizmo686 3y agoIn this case, we understand the cause of the problem incredibly well. Advances in technology reduced the amount of work that needs to be done in an office building; and a once in a century pandemic caused the resulting shift away from office building to happen much faster then it otherwise would have.
- 2devnull 3y agoThe risk was not “priced in” which is to say there were perverse incentives to develop offices that weren’t truly needed and a corporate culture that was shielded from the consequences of misallocating funds.
- bonton89 3y agoIts sort of like the student loan forgiveness thing to me. I certainly feel a lot of these people, maybe even most of them, got taken advantage of and screwed and maybe we should cancel the loans. But with no accompanying effort to prevent it from continuing to happen its a bit like treating a guy who is bleeding out by giving him a blood transfusion and pushing him out the door. Its expensive and only delayed the result.