Vaccine

Grace T. said:
Meh...most economics believe the union wage premium exists. It's anywhere from 3-20% and dependent on industry (one example: public school v. private school teacher wages based on years of experience). Closed shops are able to extract more (by exercising monopoly power) than union shops than open shops than non union shops. It's large in the public sector than the private because of regulatory capture. You can't avoid the supply curve, though, and the premium has to be made up elsewhere (....it must come from somewhere....if you take it from the capitalist overlords, which means lower profits which means lower investments in said industry). The union wage premium, though, has dropped for a lot of industries subject to non-union international competition....in said cases the unions just wind up pricing themselves out in the US to lower cost overseas firms. It's one of the theories for why unions have declined in goods creation industries, but are robust in services and public sector industries. TANSTAAFL and there are costs for every intervention a government makes.
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When I was affordable housing business, prevailing wage added about 15-20% to the total cost. This was 17 years ago, so I don't know how accurate it is now. Prevailing wage became required for any projects we used public funding, which wasn't conducive to actually building affordable housing. Hence why we moved on from the industry.
 
Kicker 2.0 said:
Then it’s not a vaccine…..Not saying it doesn’t have a net positive impact, but it isn’t a vaccine.
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If we use that definition, then the world has no vaccines.

They pretty much all have percent effective < 100%.

I don't think you will find any vaccine which makes you 100% immune to every new strain of the same disease.
 
watfly said:
When I was affordable housing business, prevailing wage added about 15-20% to the total cost. This was 17 years ago, so I don't know how accurate it is now. Prevailing wage became required for any projects we used public funding, which wasn't conducive to actually building affordable housing. Hence why we moved on from the industry.
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It's more now. I deal with it on govt jobs.
 
baldref said:
It's more now. I deal with it on govt jobs.
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This study concluded that prevailing wage adds 37% to the cost of construction in California. And people wonder why we have a shortage of affordable housing?

.
 
watfly said:
This study concluded that prevailing wage adds 37% to the cost of construction in California. And people wonder why we have a shortage of affordable housing?

.
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Again, at least that much. In my experience it's 40-50%.
The planner estimators for the agencies I work for know it's a waste, we know it's a waste, everyone pretty much knows it's a waste. But it is the law. Just another example of the government wasting our money. I pay a guy $60 an hour to push a broom around.
 
baldref said:
Again, at least that much. In my experience it's 40-50%.
The planner estimators for the agencies I work for know it's a waste, we know it's a waste, everyone pretty much knows it's a waste. But it is the law. Just another example of the government wasting our money. I pay a guy $60 an hour to push a broom around.
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Crazy and totally artificial. Just shows you the power the unions have over the government.
 
watfly said:
This study concluded that prevailing wage adds 37% to the cost of construction in California. And people wonder why we have a shortage of affordable housing?

.
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Half right. Prevailing wage does raise the cost of public projects, and California’s version is worse than most. Davis-Bacon is one of the main reasons it is so hard to build decent school facilities.

However, you can’t blame housing costs on prevailing wage. Chances are, zoning laws make it illegal to build additional housing on your street. Or my street. Or Bald Ref’s street. Or anywhere else even remotely close to work. Even if costs suddenly dropped, you still couldn’t build much because the cities wouldn’t let you.
 
dad4 said:
Half right. Prevailing wage does raise the cost of public projects, and California’s version is worse than most. Davis-Bacon is one of the main reasons it is so hard to build decent school facilities.

However, you can’t blame housing costs on prevailing wage. Chances are, zoning laws make it illegal to build additional housing on your street. Or my street. Or Bald Ref’s street. Or anywhere else even remotely close to work. Even if costs suddenly dropped, you still couldn’t build much because the cities wouldn’t let you.
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I really meant in regards to affordable housing, which prevailing wages absolutely drive the cost up. Also California cities have affordable housing requirements set by the State so their anxious to attract affordable housing. However our State "leadership" is too stupid to understand that their requirement to use prevailing wage for the use of any public financing makes it that much more difficult to build affordable housing.
 
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