←back to thread

Six months into tariffs, businesses have no idea how to price anything

(www.wsj.com)
462 points JumpCrisscross | 1 comments | 30 Aug 25 20:56 UTC | HN request time: 0.001s | source
Show context
Refreeze5224 ◴[31 Aug 25 01:38 UTC] No.45079571[source]▶
[flagged]
replies(7): >>45079637 #>>45079639 #>>45079766 #>>45080078 #>>45080308 #>>45080429 #>>45083035 #
dismalaf ◴[31 Aug 25 01:55 UTC] No.45079639[source]▶
The system that allows very wealthy to exist is also the reason the US has the highest class mobility among western nations.

Also, on a purely pragmatic note, capital is mobile. If you penalize the rich, they just move, and then the new system will stop class mobility.

replies(7): >>45079660 #>>45079673 #>>45079677 #>>45079769 #>>45079995 #>>45080147 #>>45081210 #
jkestner ◴[31 Aug 25 02:03 UTC] No.45079673[source]▶

  the US has the highest class mobility among western nations
Source? The rankings I see have the US behind most of Europe.
replies(3): >>45079723 #>>45079813 #>>45079999 #
jandrewrogers ◴[31 Aug 25 02:29 UTC] No.45079813[source]▶
You are thinking of “social mobility”, which is a term of art that doesn’t mean what people assume it means. It is essentially a zero-sum rank of your income compare to your neighbor. You can become poorer and still be “socially mobile” or much richer and not be “socially mobile”.

Social mobility has very little to do with increasing your economic welfare in any absolute sense. It strongly favors countries with highly compressed wages and doesn’t imply much about ease of increasing income since it is only weakly correlated with that.

replies(2): >>45080117 #>>45080467 #
1. dismalaf ◴[31 Aug 25 03:28 UTC] No.45080117{3}[source]▶
Economic, class, social mobility classically means ability for an individual to attain significantly more wealth than they were born with and ability to change their and their family's lifestyle. In which case it's not zero sum.

But yeah, some statistics indeed are just likelihood that the ranking order changes, or even self-reported...

It's like the definition of "middle class". Everyone thinks they're middle class. The OECD calls anyone with 75% to 200% of the average income "middle class". Classically the term means you are above the labour class but not noble.