Once upon a time, a great many Americans worked in manufacturing. But, with advances in machinery, and off-shoring of industry, the need for industrial labor steadily decreased. Today, only a small percentage of the population works in manufacturing.
Once upon a time, a great many Americans worked in offices providing services. But, with advances in computers, and off-shoring of service work, the need for office labor has steadily decreased. Today, a much smaller percentage of the population works in offices.
Bottomline: We are productive, but where are the jobs?? Can society function when we have goods, and not much need for much of the population to labor?
Bottomline: We are productive, but where are the jobs?? Can society function when we have goods, and not much need for much of the population to labor?
An interesting comment on Rush yesterday by a caller that had lived in Saudi Arabia. Claiming I believe rightly that they import much of their “menial” labor, or labor period.
Making for an interesting lack of need for “workers” among the ruling/pontificating class. There is much to be learned and much to be gained by working.
The media tends to have us a service economy in contrast to days of yore, when we produced or made things. I’m not so sure working at McDonalds is the pinnacle of service.
As you indicate things are ever changing, and aren’t likely to slow down anytime soon, we adapt or rot.