{"id":53072,"date":"2023-08-25T18:00:58","date_gmt":"2023-08-25T22:00:58","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/what-do-remote-workers-have-in-common-with-the-moon-landing-economist-robert-shiller-explains\/"},"modified":"2023-08-25T18:01:01","modified_gmt":"2023-08-25T22:01:01","slug":"what-do-remote-workers-have-in-common-with-the-moon-landing-economist-robert-shiller-explains","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=53072","title":{"rendered":"What do remote workers have in common with the moon landing? Economist Robert Shiller explains."},"content":{"rendered":"
\n

Some people may refer to their company\u2019s headquarters as the Mother Ship. <\/p>\n

But economist Robert Shiller has a different theory about the relationship between space, time and \u2014 well \u2014 work. As companies increasingly push workers to return to the office, one prominent economist says that a fundamental shift is underway.<\/p>\n

\n

\u201cI think there\u2019s going to be a revolution because of work at home,\u201d Shiller, the Nobel-Prize winning professor of economics at Yale University and co-founder of the Case-Shiller Index, told MarketWatch.<\/p>\n

<\/p>\n

<\/p>\n

\n

\n \u201c<\/span>\u2018It\u2019s just like the space project. The trips to the moon and to Mars came out after a horrible World War II. Sometimes bad things can stir things up a bit and make for a better outcome in the future.\u2019\u201d<\/span>\n <\/p>\n


\n \u2014 Robert Shiller<\/span>
\n <\/small><\/p><\/div>\n<\/p><\/div>\n

City center retailers have already noticed the change in consumer habits, research suggests, and builders are looking for new developments. \u201cIt will take time for construction to accommodate that,\u201d Shiller added. <\/p>\n

Earlier this week, Goldman Sachs\u00a0
\n GS,
\n +0.06%<\/bg-quote>
\n \u00a0managers nudged workers back to the office five days a week after issuing a return-to-office edict last year. Some Amazon employees\u00a0told CNBC, according to a report published this month, that they\u2019d rather quit instead of moving to a new state as part of the company\u2019s relocation mandate directed to certain teams.<\/p>\n

\u201cIt\u2019s an important positive development that we\u2019ve seen as a result of the COVID-19 epidemic,\u201d Shiller said. \u201cIt\u2019s just like the space project. The trips to the moon and to Mars came out after a horrible World War Two. Sometimes bad things can stir things up a bit and make for a better outcome in the future.\u201d<\/p>\n

<\/p>\n

<\/p>\n

<\/p>\n<\/figure><\/div>\n

Novelist and historian Sarah Sundin has researched the connections between World War II and the moon landings \u2014 from postwar rocket development, improvements in navigation systems to the development of artificial rubber. <\/p>\n

\u201cCountless other technological developments from WWII led to that momentous day in 1969,\u201d she wrote. \u201cArtificial rubber, developed due to Japanese control of rubber plantations in South Asia, led to advanced materials used to build the rockets and spacesuits.\u201d<\/p>\n

Others agree that a healthier work-life balance is one positive development since the pandemic that could improve the quality of people\u2019s lives over the long term. \u201cI do not think people are going to be returning to the office five days a week,\u201d Annie Thompson, a lecturer at the Center for Real Estate at the Massachusetts Institute of Technology, told MarketWatch. <\/p>\n

The number of apartments under construction in major cities in the Sun Belt \u2014\u00a0from Atlanta to Austin \u2014 is expected to exceed the number of tenants expected to occupy them, and that is pushing rent growth down, according to\u00a0recent data from CoStar Group\u00a0
\n CSGP,
\n +0.80%<\/bg-quote>.<\/span>\n <\/p>\n

<\/p>\n

<\/p>\n

\n

\n \u201c<\/span>\u2018I do not think people are going to be returning to the office five days a week. Settling in on a two- to three-day home office breakdown is going to be most likely.\u2019\u201d<\/span>\n <\/p>\n


\n \u2014 Annie Thompson<\/span>
\n <\/small><\/p><\/div>\n<\/p><\/div>\n

Investors who are seeing rent growth fall are consequently shifting their money into Midwestern markets, the company added, where they are still finding slow but steady growth.<\/p>\n

Shiller also said that even though some companies have tried to bring workers back into the office five days a week, that trend may not catch on. In fact, there were more than 700,000 advertised vacancies for fully-remote roles in July.<\/p>\n

Thompson, who collaborates with Shiller on an annual survey of home buyers, said remote and hybrid work will obviously be more prevalent in some industries than others. \u201cSettling in on a two- to three-day home office breakdown is going to be most likely.\u201d<\/p>\n

And Shiller? He will be working on a hybrid model. \u201cIt\u2019ll be in between,\u201d he said. \u201cIt\u2019ll be more work at home.\u201d<\/p>\n

Related:<\/strong><\/p>\n

\u2018Lazy-girl jobs\u2019 creator hits back at allegations of elitism \u2014 others disagree<\/p>\n

\u2018These poor people who live in these tiny apartments\u2019: Striking actors say their problems begin with the audition process<\/p>\n

These fully remote jobs pay over $100,000 a year<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Some people may refer to their company\u2019s headquarters as the Mother Ship. But economist Robert Shiller has a different theory about the relationship between space, time and \u2014 well \u2014 work. As companies increasingly push workers to return to the office, one prominent economist says that a fundamental shift is underway. \u201cI think there\u2019s going […]<\/p>\n","protected":false},"author":1,"featured_media":53073,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[236],"tags":[83],"class_list":["post-53072","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-news","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nWhat do remote workers have in common with the moon landing? 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