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Robots and other efficiency gains will occur, but it does not mean at the macro level, we will not end up in deep trouble. We simply do not need all able bodied/able minded people working. Ever again.
Yes, new occupations will arise, but they will not take up all the excess from occupations lost.
New occupations give rise to new industries, which redistribute jobs at the minimum and likely creating more (we're now talking a network, rather than a singular business).
Besides, you can't resist progress. It is guaranteed to happen, and the best you can do is to prepare for new and greater challenges. This is where education, training and the human resource comes into play.
New occupations give rise to new industries, which redistribute jobs at the minimum and likely creating more (we're now talking a network, rather than a singular business).
Besides, you can't resist progress. It is guaranteed to happen, and the best you can do is to prepare for new and greater challenges. This is where education, training and the human resource comes into play.
I agree progress will occur, but new industries will not employ the quantity old industries had employed.
I am delighted all in my families' younger generations have either gotten or are working on advanced degrees, but it does not change one fact: In our future, we will be 50 people playing musical chairs with 30, instead of 45, seats. All we can do is maximize our odds to avoid being one of the 20.
SOME of what you say is true - particularly in regards to the "Global competition" issue.
The dollar however is NOT "declining". The Dollar Index bounces between 90 and 70 and is now roughly where it was 10 years ago.
I agree progress will occur, but new industries will not employ the quantity old industries had employed.
I would wager on more, actually. Businesses no longer operate in isolation. There is a whole network they become a part of. Many outsource parts of their business, for someone else to pick it up. This is largely done to maximize efficiency. Take telecom industry for example. Before computerization, and expansive use of telephone operators, there was a requirement of certain skill sets. There were fewer consumers too.
Computerization replaced operators. These skill sets were no longer needed, however, now a whole different set of skills were required, be it data entry, management, analysis (for improving efficiency). Besides switchboards (new kind), a whole new industry came into play providing computers (and their vendors), software. Additional logistics network was needed as well. We can't stick with jobs for telephone operators, as the job opportunities got redistributed.
A software could replace an accountant in a warehouse business which could now focus more on its business and outsource accounting elsewhere (the accountant becomes a consultant within the software industry which has its own network of employment, focusing entirely on a piece of doing business).
the dollar IS DECLINING , not in a trade value...but in the WHAT A DOLLAR BUYS value
if you bought something for $20 dollars in 2002 (ten years ago)...you would need $25.72 today to buy that very same item
So what?
As long as it's not excessive - and wages move in synch prices it's not really a major problem. It IS true however that over that time wages have NOT moved in synch with prices (well, unless you are in the "top 2 percent" - in which case you income has shot up drastically).
if you bought something for $20 dollars in 2002 (ten years ago)...you would need $25.72 today to buy that very same item
Median income 2002: $42,409
Median income 2011: $50,054
I believe purchasing power has decreased in real dollars, but nothing so drastic as the oversimplified $20 to $26 you mention. Income generally goes up over time along with prices.
Everyone is getting cut to part time work because Obamacare is creating many more part time jobs out of one full time job. Thank Obamacare for more part time jobs and no benefits for the workers.
Everyone is getting cut to part time work because Obamacare is creating many more part time jobs out of one full time job. Thank Obamacare for more part time jobs and no benefits for the workers.
Everyone? Try again. Very few are and those employers that are doing it are stupid. They'll lose their best workers to save a few pennies.
Everyone? Try again. Very few are and those employers that are doing it are stupid. They'll lose their best workers to save a few pennies.
Right
We now have this little thing called a very high unemployment rate. Employers will not save "a few pennies" by cutting employees to part time with the new obamacare taxes; in many instances, it is the difference between surviving and failing.
Gee, MTA, why is it that if we had the same number of people in the workforce today as we did in 2008, the unemployment rate would be 14%? Now we will have higher unemployment and greater misery foisted on the US, courtesy of four more years of job killing policy.
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