That's weird, I got the opposite conclusion. I would have thought this happened because China choose to drift back to free markets instead of improving their central planning. The government demanded a larger market for graduations, and the colleges were free to increase their prices. Is that not econ 101 supply and demand? Now the graduates are on the market and whoever wants to hire can pay at a lower market price, and they're even free to not hire if there's extra candidates. Under a good central planning, anyone who really wants a job could be planned a state sponsered job. It doesn't have to be a fake office job or a bureaucratic layer job like in large US corporations, there's actually plenty of science and engineering research that could be worked on, and China has the man power to challenge research in the US. Interestingly enough, a lot of science and research in the US is state sponsered. If it weren't, I wonder if that talent would be employed, working at Starbucks, or building a new Electron MVP to 'disrupt' one stagnant market to replace it with even more stagnant, monthly rental SaaS.
The free market is what allows this to happen in the first place. The free market's goal is to abuse workers and push them to just near their breaking point for profits.
briandear|7 years ago
Can_Not|7 years ago
prolikewhoa|7 years ago