{"id":11716,"date":"2010-04-06T18:17:12","date_gmt":"2010-04-07T01:17:12","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=11716"},"modified":"2010-04-06T18:17:12","modified_gmt":"2010-04-07T01:17:12","slug":"dawn-in-america-part-3-5-who-needs-jobs","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/11716\/dawn-in-america-part-3-5-who-needs-jobs\/","title":{"rendered":"Dawn in America Part 3.5- Who Needs Jobs?"},"content":{"rendered":"

The current Adminsitration has its target on one more component of the capitalist model; free labor.\u00a0 From today’s Wall Street Journal<\/a>:<\/p>\n

You might therefore expect a federal effort to encourage employers to give unskilled youngsters a chance. You would be wrong. The feds have instead decided to launch a campaign to crack down on unpaid internships that regulators claim violate minimum-wage laws.<\/p>\n

“If you’re a for-profit employer or you want to pursue an internship with a for-profit employer, there aren’t going to be many circumstances where you can have an internship and not be paid and still be in compliance with the law,” the Labor Department’s Nancy J. Leppink tells the New York Times.<\/p><\/blockquote>\n

Did you hear that?\u00a0 You might not be allowed to employ a willing<\/em> student, who wants to learn a trade, without paying him minimum wage.<\/p>\n

Consider these two summer job options:<\/p>\n

1- Working in the Goldman Sachs\u00a0 mail room for minimum wage.\u00a0 That job certainly gets a young person in the door but the opportunity to learn, network, and accept greater responsibilities are practically nil.<\/p>\n

2- Interning on a trading desk, for PIMCO, for no compensation.\u00a0 While that young person won’t make a dime, she has the chance to work alongside fixed income legend Bill Gross.\u00a0 She’ll speak to fund managers all over the country, meet people who might hire her after graduation, and accept challenges few people her age would ever see.<\/p>\n

Anyone should be able to see that the latter is the equivalent of a free MBA while the former is an invitation to a labor union.\u00a0 Chris Gardner knew the value of an internship.\u00a0 He worked for free<\/a>, when he needed fast cash to support his son.\u00a0 He willingly traded his labor for future opportunity-that’s an investment.<\/p>\n

Read what Greg Swann wrote about the value of free<\/a>, in the early days of Bloodhound Blog:<\/p>\n

How much future is there in a job that millions of very smart people are willing to do for free? Maybe not the same work, but so close that any differences become academic.<\/p><\/blockquote>\n

Greg was talking about the disintermediation of the Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The current Adminsitration has its target on one more component of the capitalist model; free labor.\u00a0 From today’s Wall Street Journal: You might therefore expect a federal effort to encourage employers to give unskilled youngsters a chance. You would be wrong. The feds have instead decided to launch a campaign to crack down on unpaid […]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[212,379],"tags":[],"class_list":{"0":"post-11716","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-flourishing","7":"category-innovation","9":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":617,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/617\/run-faster-theres-a-new-minimum-wage-in-arizona\/","url_meta":{"origin":11716,"position":0},"title":"Run faster: There’s a new minimum wage in Arizona . . .","author":"Greg Swann","date":"November 8, 2006","format":false,"excerpt":"The voters of Arizona passed a number of those pernicious ballot initiatives Cameron argued against Monday night. Probably the most consequential is a coercive increase in the minimum wage. Warm-hearted people like to think of poor people making more money, but the net consequence of minimum wage laws is to\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15417,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/15417\/hey-california-realtors-are-you-making-minimum-wage-for-your-efforts-if-not-your-broker-just-went-into-cardiac-arrest\/","url_meta":{"origin":11716,"position":1},"title":"Hey, California Realtors: Are you making minimum wage for your efforts? If not, your broker just went into cardiac arrest.","author":"Greg Swann","date":"December 5, 2011","format":false,"excerpt":"Teri Lussier pointed this out to me last week, and I've been waiting since then for someone to plumb the implications. Ah, well, when there's constabulary work to be done... Here's the news: The state of California is making ZipRealty pay it agents minimum wage for their time. That's huge.\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":775,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/775\/see-the-pursuit-of-happyness-because-there-are-worse-fates-than-straight-commission-sales\/","url_meta":{"origin":11716,"position":2},"title":"See “The Pursuit of Happyness” — because there are worse fates than straight commission sales . . .","author":"Greg Swann","date":"December 17, 2006","format":false,"excerpt":"We see everything through the lens of real estate, including films and television programs. It's baked in the cake. Houses, always, and rooms and neighborhoods, and god help us if there's a real estate transaction in a movie or TV show. When we were leaving The Pursuit of Happyness last\u2026","rel":"","context":"In "Casual Friday"","block_context":{"text":"Casual Friday","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/casual-friday\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9482,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/9482\/it-is-time-for-a-new-civil-rights-movement\/","url_meta":{"origin":11716,"position":3},"title":"It is time for a new Civil Rights Movement","author":"Al Lorenz","date":"August 10, 2009","format":false,"excerpt":"After seeing all the fuss over Doug Quance's post about A Governmental Takeover of Real Estate Brokerages, I thought a more thorough answer from my perspective to his question might be appropriate.\u00a0 Last week, a couple of sentences from a superb article by Yaron Brook at the Ayn Rand Center\u2026","rel":"","context":"In "Egoism in Action"","block_context":{"text":"Egoism in Action","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/egoism-in-action\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1194,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1194\/avoid-being-the-greatest-fool\/","url_meta":{"origin":11716,"position":4},"title":"Avoid Being the Greatest Fool","author":"Cooksquared","date":"March 22, 2007","format":false,"excerpt":"The greater fool theory is simply this: Even if doing X doesn't make sense, there is always someone dumber than me I can sell X to. Replace X with inflated real estate, sub-prime mortgages, stocks, garage sell junk, etc. This is the crux of bubble thinking. The major problem with\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7639,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/7639\/an-open-letter-of-apology-to-chaz-berman\/","url_meta":{"origin":11716,"position":5},"title":"An Open Letter of Apology to Chaz Berman","author":"Mark Green","date":"April 1, 2009","format":false,"excerpt":"Ten years ago, as Director of National Accounts for MyPoints.com,\u00a0 I found myself smack dab in the middle of an eerily similar boom-to-bust cycle we're experiencing in real estate today. Back then, MyPoints could do no wrong. \u00a0 Advertisers were lining up to spend money with us. Investors were throwing\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/11716","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=11716"}],"version-history":[{"count":5,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/11716\/revisions"}],"predecessor-version":[{"id":11721,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/11716\/revisions\/11721"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=11716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=11716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=11716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}