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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 76.28+0.1%Nov 25 3:59 PM EST
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To: pfalk who wrote (67620)4/14/2005 12:43:06 PM
From: Elroy  Read Replies (1) of 77400
 
Let's define terms here: I have a Wall St., Silicon Valley, High Tech and engineering bias, that is to say, I wan engineers to be well paid, WS market to boom and me to prosper.

I hear ya, and the only problem with what you want is the part about you getting well paid. When 1 billion Indians and 1.2 billion Chinese started entering world markets in a meaningful way over the past 15-20 years, wage deflation is the natural result. Unfortunately, you are the old high income earner and they are the new low income earner, so they rise while you fall (or go away). That's again just capitalism and economics at work.

You have to either prove employers right and be 5x more productive and thus deserving of a 5x higher salary, or you have to accept a lower wage. I don't see much of any way around it. Same thing has happened to the US manufacturing industry as there is no good reason to pay factory workers $35 per hour when foreigners will do it for $10 per day. If you want the higher wage, you need to prove to your employer that you are that much more productive, otherwise you're swimming against the tide.

You're like the little shop with a small selection complaining that Walmart has opened 1/2 mile away and has prices 30% less than yours
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