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Old 08-14-2020, 06:34 AM
 
3,940 posts, read 2,046,560 times
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I’m voting for the 80% leisure-based economy. The other 20% will be made up of politicians who compete for my vote by loading more money on my digital wallet.
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Old 08-14-2020, 07:07 AM
 
Location: Bangkok
11,954 posts, read 6,204,068 times
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Quote:
Originally Posted by Elliott_CA View Post
It'll be viable as long as comparative advantage makes it worthwhile to import manufactured goods instead of making them ourselves. The U.S. excels in the service sector because there are high value, high expertise services we can export, and consume domestically, that no one else does or not as well.
Combination of this and efficiencies in production have allowed developed countries to continuously expand the services sector of their economy.
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Old 08-14-2020, 10:39 AM
 
15,877 posts, read 12,690,105 times
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I we become mostly services, then depend on other countries for agriculture, and industry. That puts us at disadvantage.

A better economy is everything in one country. Look at one trick ponies like Venezuela or places that depend on hospitality for the most part

Plus is not like we are over retailed as is, or over lawyered

https://www.nreionline.com/retail/us-over-retailed

https://www.thoughtco.com/are-there-...awyers-4026025

Heck look at the IT industry. Can we base our economy on importing workers who constantly drive down the wage for that job?

Last edited by NJ Brazen_3133; 08-14-2020 at 11:07 AM..
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Old 08-14-2020, 01:41 PM
 
6,503 posts, read 2,836,526 times
Reputation: 7891
Quote:
Originally Posted by TimAZ View Post
I’m voting for the 80% leisure-based economy. The other 20% will be made up of politicians who compete for my vote by loading more money on my digital wallet.
And sadly there would still be theft, drugs, and violence. People will invent social problems (that's kind of already implied, right?) where were none to begin with.
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Old 08-14-2020, 02:43 PM
 
5,449 posts, read 2,299,170 times
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he service economy in developing countries is most often made up of the following:

Financial services
Tourism
Distribution
Health, and
Education

Examples:

Public services ( Education, Healthcare, Community programs)

Design

Marketing

Ecommerce

Transport

Non Profits

Business Services

Professional Services

Financial services

Insurance

Operations

Maintenance

Software & Computing

Media & Infromation

Entertainment

Restaurants

Bars & Nightclubs

Culture

Club goods (ex theme park or gym)



https://www.youtube.com/watch?v=q8Zdz4TwUbs

.




https://www.youtube.com/watch?v=pI_vU-YbiIg

THE DELIVERY ECONOMY
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Old 08-14-2020, 09:37 PM
 
Location: Bangkok
11,954 posts, read 6,204,068 times
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Quote:
Originally Posted by NJ Brazen_3133 View Post
I we become mostly services, then depend on other countries for agriculture, and industry. That puts us at disadvantage.
This isn't true.

If automation has increased efficiency while reducing manpower and prices in agriculture to the point where a smaller sector of the economy can feed all the people, then that is where you're at... you don't have a glaring weakness in ability to self-sustain just because that cheap food production doesn't take up a bigger portion of GDP.

If a country can't produce enough to self-sustain then it depends on other countries, but that's an entirely different thing than it not being the largest portion of an economy.
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Old 08-15-2020, 02:43 AM
 
Location: Sacramento County
156 posts, read 83,597 times
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Quote:
Originally Posted by lieqiang View Post
Combination of this and efficiencies in production have allowed developed countries to continuously expand the services sector of their economy.
You mean the "lowest paid" sector of their economy.

Service jobs pay utter crap. That's why half of American jobs out there pay under $30K a year!
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Old 08-15-2020, 04:16 AM
 
Location: The Triad (NC)
33,095 posts, read 77,640,669 times
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Quote:
Originally Posted by JobHunter2018 View Post
That's why half of American jobs out there pay under $30K a year!
They pay crap because of how many others can easily jump into a position.
The same basic dynamic that exists in the lowest MW levels: Too Many People.
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Old 08-15-2020, 12:21 PM
 
1,408 posts, read 963,056 times
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Quote:
Originally Posted by kanonka View Post
It's not viable and never has been.
And no, coming back to industrial economy is no longer possible here.
^ This.

It's never been viable. Service economies don't last long. We need to actually manufacture things here en masse, but I don't really see that happening again any time soon. IMO, the U.S. is no longer a "shining city on a hill" and won't be again for a very long time. Another country is going to take our place.
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Old 08-16-2020, 01:41 AM
 
Location: Sacramento County
156 posts, read 83,597 times
Reputation: 311
Quote:
Originally Posted by MrRational View Post
They pay crap because of how many others can easily jump into a position.
The same basic dynamic that exists in the lowest MW levels: Too Many People.
And therein lies the problem with the argument that we need a more educated workforce. It's not that we don't, we actually do - the problem is that when we do turn all those low end workers into PhD-holding engineers, the value of those high-paying engineering jobs will implode because... too many people, too few jobs. We exported too many jobs.

Quote:
Originally Posted by Flyers Girl View Post
^ This.

It's never been viable. Service economies don't last long. We need to actually manufacture things here en masse, but I don't really see that happening again any time soon. IMO, the U.S. is no longer a "shining city on a hill" and won't be again for a very long time. Another country is going to take our place.
Nope, no country is taking our place. Machines are taking our place.
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