Thread for people to explain how immigrants take jobs

[Kuciwalker]

I wonder how many people would agree to be killed right now for 8 million dollars if they could leave a will that says how to spend it.

N * (1/N statistical lives) <> 1 specific life, to an individual.

[KrazyHorse]

N * (1/N statistical lives) <> 1 specific life, to an individual.

Already answered that. In particular, it is a question of decreasing marginal utility of cash and increasing marginal utility of probability of survival.

[KrazyHorse]

The government.

Really? As I understand it, the various member boards of the ABMS are the ones who control residency requirements, and these are staffed by representative specialists in each field. I'm not sure how those people are chosen, but my assumption would be that people like you get to vote for them.

As for accreditation of medical schools, it is done by an organization known as the AAMC, which is a cabal of medical schools who get to decide what other schools (if any) are allowed to join the club. You probably have less direct influence over this group.

[Kidlicious]

Already answered that. In particular, it is a question of decreasing marginal utility of cash and increasing marginal utility of probability of survival.

[Guynemer]

Really? As I understand it, the various member boards of the ABMS are the ones who control residency requirements, and these are staffed by representative specialists in each field. I'm not sure how those people are chosen, but my assumption would be that people like you get to vote for them.

As for accreditation of medical schools, it is done by an organization known as the AAMC, which is a cabal of medical schools who get to decide what other schools (if any) are allowed to join the club. You probably have less direct influence over this group.

The thing is, technically, no one has to do a residency. You can graduate from med school, MD in hand, and say "**** that noise, I'm a general practitioner," and that'd be totally legal. Good luck getting any insurance companies or Medicaid or anyone, really, to pay you, though.

[Hauldren Collider]

Personally, I think you shouldn't have to do a four-year university degree before med school though. It seems rather pointless.

[MRT144]

Let's think about a relatively old piece of HFT technology: the transatlantic telegraph. To this day, the GBP/USD FX rate is called the "cable" due to the impact the telegraph had on the market. Was it fair that those who did not have access to the telegraph could be arbitraged by those who did (and who therefore knew the price on the other side of the ocean virtually instantaneously)? Does it matter? Of course not. There's no such thing as fair. There was an inefficiency in the market (the week it took for news to travel from NYC to LDN) and by reducing the inefficiency some people made some money for a while, until that source of alpha disappeared. Meanwhile, people as a whole were better off because they knew more quickly the financial conditions in the other important world center of the time, and were able to more fully integrate this information into their plans.

There is no difference between this and a HFT scooping some fractions of a penny out of a transaction. Remember that JUST TEN YEARS AGO stocks weren't even decimalized yet; spreads were more than 10 times as large. Now people ***** and moan that they might get hit for 0.2 cents. In ten years they'll be whining about the 0.02 cents the evil HFT sucked out of them...

Do you think there is potential for the HFT technology to run amok at some point, either through faulty premise or through faulty design?

[Kuciwalker]

What is the worst thing you can imagine "HFT run amok" doing?

[notyoueither]

Crashing the market?

[Kuciwalker]

Which does... what, exactly? Are you suggesting that the market crash would be persistent, rather than disappearing within minutes?

[KrazyHorse]

Which does... what, exactly? Are you suggesting that the market crash would be persistent, rather than disappearing within minutes?

Who knows? The exchanges have made it impossible to profit off stopping crashes, so where's the incentive?

[Kidlicious]

How have the exchanges done that?

[MRT144]

What is the worst thing you can imagine "HFT run amok" doing?

Skynet.

[Tupac Shakur]

Excellent point.

[Mojotronica]

http://www.addictinginfo.org/2011/12/11/alabama-republicans-desperately-trying-to-keep-foreign-companies-in-state/

Alabama Republicans Desperately Trying To Keep Foreign Companies In State
December 11, 2011
By Stephen D. Foster Jr.

Alabama’s anti-immigration law is the toughest in the nation, and it turns out that it’s the costliest as well. Not only has the law devastated the agriculture industry, but it is now threatening to devastate the foreign auto industry that plays a key role in the Alabama economy.

Since Alabama Republicans enacted their immigration law, known as HB 56, thousands of farm hands have flocked out of the state, leaving crops uncared for. But Alabama has a new problem. Since HB 56 became law, Alabama authorities have arrested two foreign executives, one German, one Japanese, even though they were in the United States legally. Now, it looks as though foreign automakers and other foreign industries are reconsidering doing business in the state.

Alabama Republicans are desperately trying to convince foreign companies that their businesses are welcome. GOP Governor Robert Bentley even sucked up to foreign companies. ⁠“We are not anti-foreign companies. We are very pro-foreign companies,” Bentley said.

If I were a citizen in Alabama, I’d be calling for the repeal of HB 56. Alabama will lose up to $40 million a year because of it, and could cost the state thousands of jobs and millions of dollars in future investments. HB 56 was not a smart law. It was designed out of hatred and bigotry. And now Alabama may have to pay the price for it.