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08-13-2020, 06:48 PM
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5,449 posts, read 2,304,152 times
Reputation: 2522
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Can the United States switch to a less Service (80%) based economy ?
How viable is an 80% service economy for the future?
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08-13-2020, 07:01 PM
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Location: Bangkok
11,980 posts, read 6,230,109 times
Reputation: 21066
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Someone could have asked how viable an industrial based economy after it supplanted agriculture. The world changes, it's entirely possible to have a primarily services based economy that flourishes.
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08-13-2020, 07:10 PM
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Location: Sacramento County
156 posts, read 83,801 times
Reputation: 311
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Quote:
Originally Posted by lieqiang
Someone could have asked how viable an industrial based economy after it supplanted agriculture. The world changes, it's entirely possible to have a primarily services based economy that flourishes.
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Funny how it's taking the working class down, not up. The fantasy bicycle meets the reality freight train. |
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08-13-2020, 08:10 PM
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5,449 posts, read 2,304,152 times
Reputation: 2522
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Quote:
Originally Posted by lieqiang
Someone could have asked how viable an industrial based economy after it supplanted agriculture. The world changes, it's entirely possible to have a primarily services based economy that flourishes.
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It seems like COVID-19 has shown us vulnerabilities of a service based economy to future problems like climate change. A service economy at 80% may not be sustainable in the future.
Even now retail is in a sorry state and even before this virus was taking heavy loses to online buying
Agriculture and Industry produce things, service doesn't |
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08-13-2020, 08:51 PM
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Location: Flyover part of Virginia
3,041 posts, read 1,616,253 times
Reputation: 4187
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As we near limits of growth and debt expansion, America's service-sector, consumer-based bubble economy will no longer be viable. We will be forced to transition to an economy based on producing real things. This transition will be tremendously painful and costly.
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08-13-2020, 09:10 PM
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1,519 posts, read 512,826 times
Reputation: 1317
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Quote:
Originally Posted by jonbenson
Can the United States switch to a less Service (80%) based economy ?
How viable is an 80% service economy for the future?
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It's not viable and never has been.
And no, coming back to industrial economy is no longer possible here. |
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08-13-2020, 10:20 PM
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Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
31,624 posts, read 52,099,875 times
Reputation: 40405
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Quote:
Originally Posted by kanonka
It's not viable and never has been.
And no, coming back to industrial economy is no longer possible here.
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Plan D ?? Ag, Industrial, Service, BTDT... next?...(?)
Got it!
USA Medical innovation, proficiency, and cost effectiveness to lead the world!
or...
USA superior Education methods and academic and social benefit results 
or
Working together as a stronger nation!
We (USA) have a lot of potential. |
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08-13-2020, 11:26 PM
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1,519 posts, read 512,826 times
Reputation: 1317
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Quote:
Originally Posted by StealthRabbit
Plan D ?? Ag, Industrial, Service, BTDT... next?...(?)
Got it!
USA Medical innovation, proficiency, and cost effectiveness to lead the world!
or...
USA superior Education methods and academic and social benefit results
or
Working together as a stronger nation!
We (USA) have a lot of potential. |
Don't even start with me on domestic medicine. It's in such a deep s..thole that it became probably worst in the world.
On a realistic side though I guess the only solution is automation/robotics. That's the only area where USA still leads (although by a very tiny margin), and it is the future of the industry anyway. Yes, if all resources would be poured into this we still can survive. Otherwise - well, 3rd world countries still live somehow, right?
On another hand, full automation/robotics will lead to the situation when most people are just not needed. So we are facing either serious political change towards socialism-like structure, or simple social Darwinism where most people will just die "naturally" from starvation and homelessness. Something tells me that domestic establishment will choose the latter - provided, of course, there will be no revolution. |
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08-13-2020, 11:48 PM
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10,521 posts, read 4,594,849 times
Reputation: 14042
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Quote:
Originally Posted by jonbenson
How viable is an 80% service economy for the future?
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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. |
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08-14-2020, 04:44 AM
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Location: The Triad (NC)
33,165 posts, read 77,721,901 times
Reputation: 41543
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Quote:
Originally Posted by jonbenson
Can the United States switch to a less Service (80%) based economy ?
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Can the US do something about having so many people who can't do more than low level service jobs?
We better figure that one out real soon.
Then comes the higher level service jobs.
eg: For each Million fewer in total ... how many fewer <whatever> are needed to 'service' them?
Dentists f'rinstance... @1600-2000 patients per... per 1M fewer people= ~575 fewer dentists
Last edited by MrRational; 08-14-2020 at 05:32 AM..
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