The UK Lorry Trade as a parable for the economy.

My friend shared this story today. For anyone that has 3 mins spare, I thoroughly recommend fully reading the first half and skimming the rest.

Key observations:

  1. In a free market, increasing demand and/or decreasing supply causes price increase. The rate of increase tells us how “elastic” the goods or services are. There is no scope for negative elasticity. Thus, ever reducing wages suggests that HGV driving is not a free market. There is little to set Lorry driving apart from ALL other work. Proposal: the labour market in the UK is not a free market
  2. Agencies mostly operate on the model that desperate people will pay whether is asked for something they need. This is not a moral standpoint.
  3. There is no mandate in governmentto understand the country’s labour needs and invest to meet those needs as they arise (training, career progression schemes, offering sabbaticals to specialist staff). A FTSE 100 company lacking this type of strategy… would not remain FTSE100 for long.
  4. I really don’t want to live in the UK any more.

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