The Sanctions Delusion

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cassowary
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Jobs crisis in Russia

Post by cassowary » Tue May 17, 2022 6:18 pm

The Imp :D

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SteveFoerster
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Re: The Sanctions Delusion

Post by SteveFoerster » Wed May 18, 2022 10:45 am

Can't be true. Sertorio told us that the only factors that matter are the price of oil and how many rubles one can get for a dollar.
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Sertorio
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Re: The Sanctions Delusion

Post by Sertorio » Wed May 18, 2022 1:41 pm

SteveFoerster wrote:
Wed May 18, 2022 10:45 am
Can't be true. Sertorio told us that the only factors that matter are the price of oil and how many rubles one can get for a dollar.
Quote:
McDonald’s leaves behind fast-food workers: 62,000 of them, across 850 restaurants. (They will continue to be paid until the outlets are sold to a local buyer, the company said.) Renault employed 45,000 people in Russia. Ikea’s 15,000 staff will be paid only until the end of August. Siemens had 3,000 people on its rolls in Russia, until it left the country in mid-May. Blue-collar and white-collar workers alike are joining the unemployed in a fast-building jobs crisis.
All those businesses will continue producing, under new Russian management. People will keep their jobs. But I suppose that's beyond your understanding... :roll:

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SteveFoerster
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Re: The Sanctions Delusion

Post by SteveFoerster » Wed May 18, 2022 1:54 pm

Sertorio wrote:
Wed May 18, 2022 1:41 pm
Quote:
McDonald’s leaves behind fast-food workers: 62,000 of them, across 850 restaurants. (They will continue to be paid until the outlets are sold to a local buyer, the company said.) Renault employed 45,000 people in Russia. Ikea’s 15,000 staff will be paid only until the end of August. Siemens had 3,000 people on its rolls in Russia, until it left the country in mid-May. Blue-collar and white-collar workers alike are joining the unemployed in a fast-building jobs crisis.
All those businesses will continue producing, under new Russian management. People will keep their jobs. But I suppose that's beyond your understanding... :roll:
Understanding? LOL, we've already repeatedly established in other threads that you do not understand the economics behind why substitutes are definitionally less efficient than what they replace.

So this is yet another instance from you of "Accuse the other side of that which you are guilty."
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Sertorio
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Re: The Sanctions Delusion

Post by Sertorio » Wed May 18, 2022 2:03 pm

SteveFoerster wrote:
Wed May 18, 2022 1:54 pm
Sertorio wrote:
Wed May 18, 2022 1:41 pm
Quote:
McDonald’s leaves behind fast-food workers: 62,000 of them, across 850 restaurants. (They will continue to be paid until the outlets are sold to a local buyer, the company said.) Renault employed 45,000 people in Russia. Ikea’s 15,000 staff will be paid only until the end of August. Siemens had 3,000 people on its rolls in Russia, until it left the country in mid-May. Blue-collar and white-collar workers alike are joining the unemployed in a fast-building jobs crisis.
All those businesses will continue producing, under new Russian management. People will keep their jobs. But I suppose that's beyond your understanding... :roll:
Understanding? LOL, we've already repeatedly established in other threads that you do not understand the economics behind why substitutes are definitionally less efficient than what they replace.

So this is yet another instance from you of "Accuse the other side of that which you are guilty."
And why should that be? A new law of nature?...

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SteveFoerster
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Re: The Sanctions Delusion

Post by SteveFoerster » Wed May 18, 2022 2:24 pm

As has been explained to you at least twice already, if an approach is the most efficient, then it's the first choice, not a substitute.
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Sertorio
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Re: The Sanctions Delusion

Post by Sertorio » Wed May 18, 2022 2:26 pm

SteveFoerster wrote:
Wed May 18, 2022 2:24 pm
As has been explained to you at least twice already, if an approach is the most efficient, then it's the first choice, not a substitute.
There is absolutely no reason why the Russian buyer of a foreign business cannot be as efficient as the previous owner. Economics is a science, not voodoo...

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neverfail
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Re: Jobs crisis in Russia; from the horse's mouth.

Post by neverfail » Wed May 18, 2022 4:09 pm

cassowary wrote:
Tue May 17, 2022 6:18 pm
https://qz.com/2166086/the-ukraine-war- ... in-russia/


"According to a leaked document, Russian’s finance ministry expects the GDP to shrink by 12% this year, erasing a full decade of economic growth."
No economy can shrink by almost one eighth in one year without there being mass unemployment and other accompanying woes.

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Sertorio
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Re: Jobs crisis in Russia; from the horse's mouth.

Post by Sertorio » Wed May 18, 2022 4:22 pm

neverfail wrote:
Wed May 18, 2022 4:09 pm
cassowary wrote:
Tue May 17, 2022 6:18 pm
https://qz.com/2166086/the-ukraine-war- ... in-russia/


"According to a leaked document, Russian’s finance ministry expects the GDP to shrink by 12% this year, erasing a full decade of economic growth."
No economy can shrink by almost one eighth in one year without there being mass unemployment and other accompanying woes.
In a country like Russia where a good deal of the economy is state controlled, it is possible to have a decrease in GDP without a significant increase in unemployment. All you need is for the state to create jobs in the non-productive sector.

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SteveFoerster
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Re: The Sanctions Delusion

Post by SteveFoerster » Wed May 18, 2022 4:55 pm

Sertorio wrote:
Wed May 18, 2022 2:26 pm
SteveFoerster wrote:
Wed May 18, 2022 2:24 pm
As has been explained to you at least twice already, if an approach is the most efficient, then it's the first choice, not a substitute.
There is absolutely no reason why the Russian buyer of a foreign business cannot be as efficient as the previous owner. Economics is a science, not voodoo...
It's not actually about the nationality of the seller or buyer. But there's not enough spare time in the world to waste it in futile attempts to explain economics to unreconstructed Marxists.
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