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Thread: Manufacturing Jobs Not Coming Back- Declining World-wide

  1. #1

    Manufacturing Jobs Not Coming Back- Declining World-wide

    And they are no longer high- paying. If only we had more manufacturing jobs, all would be well in the US some argue. Trump will rebuild America by negotiating better trade treaties and by putting tariffs. But will it help?

    http://www.bloomberg.com/news/articl...ing-everywhere

    Why Factory Jobs Are Shrinking Everywhere

    A report from the Boston Consulting Group last week suggested the U.S. had become the second-most-competitive manufacturing location among the 25 largest manufacturing exporters worldwide. While that news is welcome, most of the lost U.S. manufacturing jobs in recent decades aren’t coming back. In 1970, more than a quarter of U.S. employees worked in manufacturing. By 2010, only one in 10 did.

    The growth in imports from China had a role in that decline–contributing, perhaps, to as much as one-quarter of the employment drop-off from 1991 to 2007, according to an analysis by David Autor and colleagues at the Massachusetts Institute of Technology. But the U.S. jobs slide began well before China’s rise as a manufacturing power. And manufacturing employment is falling almost everywhere, including in China. The phenomenon is driven by technology, and there’s reason to think developing countries are going to follow a different path to wealth than the U.S. did—one that involves a lot more jobs in the services sector.

    Pretty much every economy around the world has a low or declining share of manufacturing jobs. According to OECD data, the U.K. and Australia have seen their share of manufacturing drop by around two-thirds since 1971. Germany’s share halved, and manufacturing’s contribution to gross domestic product there fell from 30 percent in 1980 to 22 percent today. In South Korea, a late industrializer and exemplar of miracle growth, the manufacturing share of employment rose from 13 percent in 1970 to 28 percent in 1991; it’s fallen to 17 percent today.

    The decline in manufacturing jobs isn’t confined to the (now) rich world. According to the Groningen Growth and Development Center, manufacturing jobs in Brazil climbed as a proportion of total employment from 12 percent in 1950 to 16 percent in 1986. Since then it’s slid to around 13 percent. In India, manufacturing accounted for 10 percent of employment in 1960, rising to 13 percent in 2002 before the level began to fall. China’s manufacturing employment share peaked at around 15 percent in the mid-1990s and has generally remained below that level since, estimates Harvard economist Dani Rodrik. As a proportion of output, manufacturing accounted for 40 percent of Chinese GDP in 1980 compared with 32 percent now.

    As Rodrik has pointed out, most of today’s rich countries “became what they are by traveling the well-worn path of industrialization.” Agricultural workers moved to factories, followed by a period when manufacturing ceded its dominance to services. Because of the declining demand for labor in manufacturing, however, the traditional path from peasant through factory worker to cubicle farmer is missing its middle step. That’s particularly bad news, suggests Rodrik, because, unlike labor productivity in general, productivity in manufacturing is converging across countries—it’s rising faster in countries that start with the lowest productivity. And the global decline of manufacturing could have political effects: Manufacturing unions were an important part of the organization of labor parties worldwide.

    The picture isn’t all grim. First, manufacturing alone was never sufficient to drive a country from poverty to wealth. A common feature of advanced economies is that the share of output and employment in each sector is broadly the same: In high-income OECD countries, industry accounts for 24 percent of value added and 22 percent of employment. Agriculture accounts for 1 percent of value added and 3 percent of employment (while that’s a large relative gap, the absolute difference is small). Every sector has “industrialized,” and labor productivity is broadly similar across them. In developing countries, by contrast, agriculture accounts for 11 percent of output but fully 38 percent of employment, while the reverse is true in industry and services, where there’s a larger share of output than employment. The rebalancing of jobs across major sectors doesn’t only involve manufacturing growth—the whole economy must become much more efficient and capital-intensive.

    The importance of nonmanufacturing sectors to the growth story may help explain recent global economic performance. It’s true that the last 10 years have been bleak in developed countries. But, for all the decline in manufacturing job share, the developing world has had a fantastic decade of economic growth driven in large part by a stronger services sector. Services accounted for about one-half of global output in 1980, now they make up 70 percent. In Brazil, the share is 67 percent; in India, 55 percent; and even in China, where manufacturing remains outsize, services, at 43 percent, still account for a larger proportion of GDP.

    Worldwide, services account for 70 percent of value added and 45 percent of employment—the sector “outperforms” in terms of labor productivity. That’s true in some developing countries, too. The most recent Groningen data for India suggests manufacturing accounted for 11 percent of employment and 16 percent of value added. In the same year, services accounted for 22 percent of employment and 49 percent of value added. In other words, services employ more people than manufacturing and average value added per person is a lot higher.

    In China, value added per worker is higher in manufacturing than in services, and there’s huge variation across different parts of the services sector. In some areas, including the small kiosks run by micro-entrepreneurs who sell a few items a day for lack of better opportunities, productivity is incredibly low.

    Across the developing world, there are small manufacturing operators in similar dead-end occupations. Jobs in Bangladesh’s garment industry may be better than the alternatives faced by low-skilled workers in that country, but one year after the Rana Plaza garment factory collapse, which killed more than 1,000 people paid about $40 a month each, we shouldn’t romanticize factory jobs. In India, nearly two-fifths of employees in manufacturing work in textiles, leather, food, beverage, and tobacco industries where compensation is less than $1 an hour. That compares with the one-fifth working in the machinery, vehicles, and computer-and-electrical-equipment sectors, where compensation reaches above the princely sum of $2 an hour. U.S. Bureau of Labor Statistics data suggest the average manufacturing employee in India or China in 2009 was compensated at about 5 percent of the amount earned by her U.S. counterpart. Adjust that for the different purchasing power of a dollar in each country, and Indian manufacturing employees are earning about an eighth of what their U.S. counterparts make.

    Many basic service jobs do better than that. Orley Ashenfelter, writing for the U.S. National Bureau of Economic Research, calculated how much workers in McDonald’s franchises around the world are paid in terms of Big Macs an hour (a way to adjust for differences in purchasing power). Chinese workers (at 0.6 Big Macs an hour) are paid about one-quarter of the U.S. rate, while Indian workers are compensated at about one-seventh the rate. That’s better than the average manufacturing job, and the working conditions are probably better, too.

    Subsectors such as food retail are undergoing dramatic change worldwide. In Brazil, supermarkets had a 75 percent share of retail food sales in 2003. That number is only 5 percent in India, but the sector has been growing 49 percent a year recently, according to researchers at the International Food Policy Research Institute. Mobile communications is one part of the services sector where growth in productivity has exploded because of the spread of technology. The number of mobile subscriptions worldwide reached 6.8 billion in 2013. In India alone, the mobile industry was estimated to employ about 2.8 million people in 2012.

    Leapfrogging the factory to the checkout counter and cubicle farm appears to be far more straightforward than it might once have been. Compared with Western countries when they were undergoing the transition from agricultural employment, developing countries have workforces that are healthier and better educated, with access to technologies including mobile phones and computers that didn’t exist when manufacturing seemed the only way to climb the productivity ladder.

    And while factories have been the traditional base of political organization for those at the lower end of the income distribution, the 2.1 million members of the Service Employees International Union in the U.S. and the 1.4 million members of the Teamsters union suggest manufacturing isn’t the only sector that can organize. Bureau of Labor Statistics data on private-sector employment suggest only 11 percent of U.S. manufacturing employees are unionized, compared with 22 percent in transport and 15 percent in education, telecommunications, and construction. (Total unionization in the U.S. was almost 35 percent in the mid-1950s.) Regardless, many developing countries haven’t needed large manufacturing unions to push labor regulation.

    Indeed, in India, businesses complain that regulations are far too generous to labor. In 2011, if a firm had more than 100 employees, it could sack a worker only for criminal misconduct.

    Those bemoaning the decline of manufacturing are right that the trend means the traditional path to economic development no longer works, and they’re right that we’re not sure yet what the new path looks like. So the conventional wisdom on growth strategies probably isn’t much use. Frankly, that’s pretty much always been the case: The conventional wisdom in the 1960s was that Ghana would grow more rapidly than South Korea, and the conventional wisdom in 1980 was that China had terrible prospects for economic development while Japan would go on growing forever. What we do know is that more people worldwide are finding good jobs outside the manufacturing sector these days, and growth in the developing world has sped up over the past 20 years despite the decline in global manufacturing. In the U.S., India, and China alike, there’s life beyond the factory gate.
    Last edited by Zippyjuan; 04-27-2016 at 01:31 PM.



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  3. #2
    "Stuff" is still being made somewhere by someones.

  4. #3
    More productivity coming from machines replacing humans- more factory automation means fewer people needed to produce the same amount of goods. Example:



    Last edited by Zippyjuan; 04-27-2016 at 12:35 PM.

  5. #4
    Quote Originally Posted by Zippyjuan View Post
    More productivity coming from machines replacing humans- more factory automation means fewer people needed to produce the same amount of goods.
    "Stuff" is still being made somewhere by someones. Human wants and needs are unlimited.

  6. #5
    Wants are unlimited. Needs are food, water, shelter, and clothing. Manufacturing is becoming more a skilled job- being able to program, operate and maintain the equipment than putting things together by hand. You are right- there won't be zero people making stuff, but we need fewer people do to it and still get the same amount of "stuff" for everybody to be able to buy.
    Last edited by Zippyjuan; 04-27-2016 at 12:40 PM.

  7. #6
    Quote Originally Posted by Zippyjuan View Post
    Wants are unlimited. Needs are food, water, shelter, and clothing. Manufacturing is becoming more a skilled job- being able to program, operate and maintain the equipment than putting things together by hand. You are right- there won't be zero people making stuff, but we need fewer people do to it and still get the same amount of "stuff" for everybody to be able to buy.
    Surely you can come up with more needs than that, can't you?

  8. #7
    What else do you consider a need? A car? A cell phone? Those are wants. You can survive without them.

  9. #8
    Well , I could use some bear traps , nobody makes 'em anymore .



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  11. #9
    Quote Originally Posted by Zippyjuan View Post
    What else do you consider a need? A car? A cell phone? Those are wants. You can survive without them.
    Medicine, health care, education, companionship, love, comfort, self esteem, work, leisure, etc.

  12. #10

  13. #11
    Well we sbould have whatever there is. Someone has to fix the robots also.
    "Liberty lies in the hearts of men and women; when it dies there, no constitution, no law, no court can save it; no constitution, no law, no court can even do much to help it."
    James Madison

    "It does not take a majority to prevail ... but rather an irate, tireless minority, keen on setting brushfires of freedom in the minds of men." - Samuel Adams



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  14. #12
    Quote Originally Posted by Zippyjuan View Post
    Wants.
    I need them.

  15. #13
    I "need" high quality cast iron equipment with which to do my job...

    Lately, (last 20 years), I've had to go to either Italy or Germany to find anything worth using...

    Sad day when the US exports ore and imports finished goods cheaper than they can be built here...

    Don't even ask about the quality coming from Asia.......

  16. #14
    Quote Originally Posted by tod evans View Post
    I "need" high quality cast iron equipment with which to do my job...

    Lately, (last 20 years), I've had to go to either Italy or Germany to find anything worth using...

    Sad day when the US exports ore and imports finished goods cheaper than they can be built here...

    Don't even ask about the quality coming from Asia.......
    I just avoid any tool made in Asia .

  17. #15
    Quote Originally Posted by puppetmaster View Post
    Well we sbould have whatever there is. Someone has to fix the robots also.
    There will be robots for that too, and robots for fixing the 'robot fixing' robots.

  18. #16
    I blame minimum wage laws



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  20. #17
    Quote Originally Posted by Root View Post
    I blame minimum wage laws
    That could be part of it, but most manufacturing jobs pay more than the minimum wage. <shrug> More likely it's just tech progress.

  21. #18
    Quote Originally Posted by Ronin Truth View Post
    That could be part of it, but most manufacturing jobs pay more than the minimum wage. <shrug> More likely it's just tech progress.
    But doesn't progress in technology of manufacturing then free up that worker to perform a more productive job? Create jobs in the installation and maintenance of the new manufacturing technology, or the time to start their own business? I believe Hazlit wrote about this but I'm too lazy to dig it up at the moment.

  22. #19
    Quote Originally Posted by Root View Post
    But doesn't progress in technology of manufacturing then free up that worker to perform a more productive job? Create jobs in the installation and maintenance of the new manufacturing technology, or the time to start their own business? I believe Hazlit wrote about this but I'm too lazy to dig it up at the moment.
    Yep, but I'm not. https://www.mises.org/library/economics-one-lesson

  23. #20
    “Take the money and run.”, the capitalist mode of production. In pursuit of greater markets and cheaper natural resources and labor, capitalists have always taken the money and run, explaining that this was the road to progress and prosperity, whether they called it “free trade” as they did in the 19th century, or “globalization” and “outsourcing” as they do today.

    "The way to make money is to buy when blood is running in the streets."
    "I don't want a nation of thinkers, I want a nation of workers."
    "Competition is a sin."
    “God gave me my money.” J. D. Rockefeller
    “We are not in business for our health.” J.P. Morgan
    “I can hire one half of the working class to kill the other half.” Jay Gould, whose fellow big capitalists called him the “Mephistopheles of Wall Street.”
    “What do I care about the law. Ain’t I got the power?” Cornelius Vanderbilt
    “The public be damned!” William Vanderbilt
    “I am one of the men who create and maintain the property of the nation and who enable it to survive even the affliction of wrong-headed and cranky legislators.” Joseph Wharton
    Bankers own the earth. Take it away from them, but leave them the power to create money and control credit, and with the flick of a pen, they will create enough money to buy it back again." Sir Josiah Stamp
    "In the event that I am reincarnated, I would like to return as a deadly virus, in order to contribute something to solve overpopulation." Prince Phillip of England
    "I foresee a time when we shall have the means and therefore, inevitably, the temptation to manipulate the behavior and intellectual functioning of all the people through environmental and biochemical manipulation of the brain." Zbigniew Brezinski
    "The idea was that those who direct the overall conspiracy could use the differences in those two so-called ideologies [marxism/fascism/socialism v. democracy/capitalism] to enable them [the Illuminati] to divide larger and larger portions of the human race into opposing camps so that they could be armed and then brainwashed into fighting and destroying each other." Myron Fagan
    "A total world population of 250-300 million people, a 95% decline from present levels, would be ideal." Ted Turner
    "The world can therefore seize the opportunity [Persian Gulf crisis] to fulfill the long-held promise of a New World Order where diverse nations are drawn together in common cause to achieve the universal aspirations of mankind." George Herbert Walker Bush
    "In the next century, nations as we know it will be obsolete; all states will recognize a single, global authority. National sovereignty wasn't such a great idea after all." Strobe Talbot
    "It was a carefully contrived occurrence. International bankers sought to bring about a condition of despair, so that they might emerge the rulers of us all."Louis McFadden on 1929 Stock Market Crash.
    "We shall have world government whether or not you like it, by conquest or consent." James Warburg
    "The real truth of the matter is, as you and I know, that a financial element in the larger centers has owned the Government ever since the days of Andrew Jackson."
    "In politics, nothing happens by accident. If it happened, you can bet it was planned that way." U.S. President Franklin D. Roosevelt
    "...at that time the economy of the United States will be going down and the next boat people will be Americans leaving America looking for work abroad." Jacques Attali
    What the Trilateral Commission intends is to create a worldwide economic power superior to the political governments of the nationstates involved. As managers and creators of the system, they will rule the future." U.S. Senator Barry Goldwater
    Run by globalists, our economy has become what they planned it to become. There are no jobs because the globalists have us stuck in a time warp for the past more than 100 years. "The all-new [insert GM model"]" Let's see… internal combustion, gas-burning engine, 25 MPG, 4 rubber tires, steel frame, steering wheel, transmission, muffler, headlights… yeah, looks all-$#@!ing new to me.

    There are no jobs because those who REALLY create jobs, Small Business Entrepreneurs, have been starved of capital, left with a work force that's been dumbed down from #1 in the world to #17, just above Mexico and regulated out of existence by the globalist talking monkeys.

  24. #21
    "Capitalism should not be condemned, since we haven't had capitalism." -- Ron Paul

  25. #22
    I blame Central Banks for creating a system that necessitates the elimination of the human element due to cost. Tech would have eventually replaced humans, but the acceleration of the trend with no replacement jobs for the humans is causing the economic system to cannibalize itself and leave many people out in the cold.

    We pretend that Tent Cities do not exist. Why? Because truly fixing the problem requires nothing less than a Paradigm Shift that would threaten the Status Quo.

    There are many more types of Poverty than just Money alone. The most basic needs include Food and Shelter, but are not the only needs. Individuals may survive on basics alone, but without the human willingness or ability to interact, the society dies. This can be as small as two isolate neighbors who no longer speak to each other based on a disagreement. Together they form a small society, and even if they are still alive, the society dies when they refuse to communicate or interact. They wont reproduce and thus, go extinct. Societies is multi-generational. Societies are also collectives of smaller communities that interact.

    "When workforce training replaces education, society dies."

    I dont remember who said that. That is what is happening today in the US.

    People also think of others as purely physical, and really it is so much more, which is why there are more types of Poverty than just money. Physically, we need Food and Shelter, but today, we need Clothing and Medical Care. Society needs individuals to interact with others, while individuals need society. Symbiotic relationship.

    This is a list of needs I believe an individual requires to not only survive, but thrive:
    - Food
    - Shelter
    - Clothing
    - Medical
    - Information (without Information, there is no Medical or Technology, primitive reversion)
    - Emotional (Support from friends and family, negative consequence for breaking serious laws like murder)
    - Employment (ability to provide for ones self that does not strain social support structures; Cloward Piven collapse scenario)
    - Money
    - Environment (Flint, Michigan)
    - Reputational
    - Political
    - Social (Mobility / Interaction, requires some form of Transportation, even horses and walking paths, modern, buses and cars)
    - Spiritual (Even atheists like me see this as total connection to everything and everyone without supernatural prerequisites)

    The body can survive a serious injury, but too many injuries all at once overwhelm the bodys ability to self repair and death occurs. Scale this up to a societal level and we see the same thing happen. The denial of many of these more complex needs creates a parasitic control system that eventually kills the host society, which is what we are seeing today. Our societal Immune System has been turned against the healthy parts of our society and we are left with many forms of sickness, the Parasitic Ruling Class is winning.

    Flip the coin. When the individual is protected by the society and all of the above needs are met, and the society is supported by the individual, you end up with humans that thrive and improve on the definition of what it means to be human. Today, the Parasites that control our society are not in balance with the individual. They take more than they give, causing individuals who are deprived of the above listed need to enact the Cloward Piven strategy and overwhelm the societies social support system until a systematic collapse occurs. Individuals who are emotionally deprived and harmed often cause other forms of serious harm to other individuals. Those who are broke end up stealing or demanding welfare. Those without jobs do not contribute and we fight over resources that contribute to any part of the list as a whole. Those without reputation are excluded from societal interactions. Felons are often denied ability to partake in the political process, where Parasites blame the victims, and corrections to the system itself are not performed. An uneducated society is unable to advance technology or communicate complex ideas.

    I think the very core of our problems is our Money system. It has corrupted our ruling class and seriously compromised the quality of all other human needs. "All wars are Banker Wars". The only ones to always come out on top of a War is the Banks that fund and charge interest for those Wars. "No war is a good war". The statement has double meaning if you think about it. When countries go to war, the strategic attacks focus heavily on something in the aforementioned list which results in various intended consequences. Think about the long term problems that can be caused by simply knocking out the power grid. Our societies are very fragile things indeed as total elimination of anything on that list can destroy entire societies. Key example is North Korea. Do you think they are thriving? They have food and water and energy, but their minds are so compromised that they would become cannibals for the things they are critically lacking in. Destroy Medical and society is highly vunerable to wide spread disease. Escaping disease is merely luck that will eventually catch up. Again, you need to think very long term, thousands of years. A good key point here is the Black Plague. What happens when there is no medical care at all and something more deadly than the Black Plague comes along?

    Throughout history, each time we have had an honest money system that frees the ordinary man from the clutches of the money manipulators, we have had societies that thrived. Look closely at early parts of each thriving society and how each of them had fallen once their Money System became a system of Usury whereby the value of money was transferred from the individual to Money Manipulators. Once they allowed Usury to take over a Money System, it enabled a legal and political system that authorized it and a societal standard that glorified it. Today, we experience the glorification of stupidity resulting in total ignorance of the nature of coin and credit. And this results because what is taught in school is utter rubbish and society as a whole does not teach about the true nature of the coin and credit. It is better to be uninformed than disinformed, thus, ignorance and stupidity are glorified. Ignorance causes irreparable damage to societies as a whole while wisdom acts as a shield defending us against the consequences of ignorance before they happen.

    Money is not the only way a society can fall. The thing is that the more complex our societies become, the more complex our system of needs becomes also. Today we are dependent on our technology as both a way of life, but also liberating us enough that we have time to think. The time is not something we can have when we are over worked which is where robots come in to play. Understanding how robots work gives us power to allow more time to think and maintains control over the robots so they do not control us. For those who choose to not think at all, we become dependent on those same robots to tell us what to do in the daily course of our lives, just as we turn to Google for damn near every question we do not know the answers to. We need those machines and programs to provide the conclusions that we are not able to draw for ourselves due to ignorance. I should also point out that for every item on that list, there is a negative form of that also, and igorance is the result of a lack of an Honest Educational System. Even Spirituality can have a negative side. Christianity itself had the Dark Ages, there are also Cults, and any Spiritual structure that condemns benevolent human behaviors and demands death can cause the ruination of societies. Some parts of the Kuran and the Bible both do this, demanding death for "infidels" or those who speak against said creators, or stoning a disobedient child to death. Results of this cause harm to the individual to the point where they would no longer support their own society and become a strain on resources, again, enacting the Cloward Piven strategy. Other forms of societal collapse are quite obvious. The Hopi American Indians were just about wiped out by drought. Citizens of Pompeii didnt survive the eruption. Less obvious forms are Political, such as collapse of Rome due to its Politics.

    In order for a society to survive thousands of years, the listed needs of the individual must all be met as well as possible, and the list continue to evolve as humanity continues to redefine what it means to be a part of a human civilization. Individuals may survive short term, but over thousands of years, if those needs are not met, then that society is doomed to collapse. We are no exception. We must understand our true nature and true needs as not just wants, but an actual need that meets some form of the requirements listed above. Even entertainment provides us with examples of how to interact in society, consequences of scenarios, and a healthy mental break from negative things in our life. We even need the negative things in existence so we can be challenged to overcome those things, but we need a positive result eventually, and entertainment provides a temporary and educational break from an imbalance of too much or too little of one thing.

    The lack of balance in our Money that provides for a few at the expense of others is what will cause our society to collapse. The interest we pay via Usury to the Money Manipulators offers us absolutely no positive long term (thousands of years) results for all individuals that make up our society as a whole. Perpetuation of this Money crisis will most likely result in War, but the cause of that War is truly Dishonest Money.
    1776 > 1984

    The FAILURE of the United States Government to operate and maintain an
    Honest Money System , which frees the ordinary man from the clutches of the money manipulators, is the single largest contributing factor to the World's current Economic Crisis.

    The Elimination of Privacy is the Architecture of Genocide

    Belief, Money, and Violence are the three ways all people are controlled

    Quote Originally Posted by Zippyjuan View Post
    Our central bank is not privately owned.

  26. #23
    It may take a great world-war to destroy enough stuff
    that then would require replacement, for anyone still alive.

    There, that should about do it; almost all fixed now.

    I've heard it especially benefits the glazier profession.

  27. #24
    Quote Originally Posted by FindLiberty View Post
    It may take a great world-war to destroy enough stuff
    that then would require replacement, for anyone still alive.

    There, that should about do it; almost all fixed now.

    I've heard it especially benefits the glazier profession.
    I think a lot of future conflict that might also be profitable will involve Cyber Crime and Cyber Security. Especially since I think Cyber Security makes claims of having high demand, yet the training for 'Cyber Warriors' is mostly a College Racket and abysmal.

    Self taught Grey Hat Hackers currently hunting program bugs and exploits for bounties will probably have a lot of opportunity in the future.



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  29. #25
    Quote Originally Posted by VIDEODROME View Post
    ... exploits for bounties will probably have a lot of opportunity in the future.
    Yea, electronic banking... A 100 year old financial problem looking for someone to blame the entire collapse of the worthless dollar on.

  30. #26
    inb4 "but automation creates more jobs than it destroys"

  31. #27
    Quote Originally Posted by Ronin Truth View Post
    "Stuff" is still being made somewhere by someones. Human wants and needs are unlimited.
    Hardly. The fact a movies went from $10 at a theater in 2001 to $10 on a DVD in 2008 to unlimited streaming of 1000 titles for $10 a month, tells you it's not at all unlimited.

    We've officially reached the point where movie consumption has decreased, it's called saturation. Watching movies is probably the easiest type of consumption (listening to music might be somewhat easier).

    Unless people become hoarders, consumption will saturate for almost anything, people still need to sleep 8 hours a day, regardless of how much they can have. It doesn't matter how cheap food is, people still can only eat 3-5 meals a day, not 100 even if it were free.

  32. #28
    Quote Originally Posted by PRB View Post
    Hardly. The fact a movies went from $10 at a theater in 2001 to $10 on a DVD in 2008 to unlimited streaming of 1000 titles for $10 a month, tells you it's not at all unlimited.

    We've officially reached the point where movie consumption has decreased, it's called saturation. Watching movies is probably the easiest type of consumption (listening to music might be somewhat easier).

    Unless people become hoarders, consumption will saturate for almost anything, people still need to sleep 8 hours a day, regardless of how much they can have. It doesn't matter how cheap food is, people still can only eat 3-5 meals a day, not 100 even if it were free.
    Myopic views are myopic.........

    Government intervention has permitted such things as "market saturation"...........

    Eliminate tax funded pay checks and watch markets respond realistically.

    As long as bureaucrats disburse tax dollars there is no such thing as an honest market place.

    Movies, groceries or munitions.........Everything government gets involved in it $#@!s up.

  33. #29
    Quote Originally Posted by Ronin Truth View Post
    "Stuff" is still being made somewhere by someones.
    I heard you could get $15.00 hour for manufacturing burgers out west.
    “[T]he enshrinement of constitutional rights necessarily takes certain policy choices off the table.” (Heller, 554 U.S., at ___, 128 S.Ct., at 2822.)

    How long before "going liberal" replaces "going postal"?

  34. #30
    Nobody saw this coming, really. I predict the service worker will be a highly skilled worker. Look what has happened to coffee. Back when I was doing it, coffee was a quarter. Pour it in a cup, snap on the lid and ask if the patron wants cream and sugar. Now coffee is a dollar for the same process, but you can also go to a store where there is a barista. The coffee will involve several pieces of equipment and a recipe. The server is a barista and your coffee will be $5.

    The service economy is there, and it will cost more. A lot more.
    #NashvilleStrong

    “I’m a doctor. That’s a baby.”~~~Dr. Manny Sethi

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