The need for labor is always retained because someone has to build, maintain, and oversee the systems (robotics and automation example). As the manufacturing economy expands (making more stuff) the scope of the technological and automation needs necessarily expands.
Huh? Automation that doesn't remove human costs is not real automation — it's simply shifting the costs to another area.
If robots — or on-line machines, productivity gains, whatever — reduce the need for human labor, then that labor must find another outlet to make money and add value.
My theory: the resurrection of America's jobs will not come from Wall Street or Silicon Valley. It will come from Main Street having the flexibility (lack of regulation and tax burden) to create new jobs that didn't previously exist.
Comments? Cupid or samurai arrows anyone?
I own a widget company, and I employ 1 man at 10 dollars a year, and he puts out 100 widgets in a year.
I replace him with a widget machine that requires 2 men ... 1 programmer at 20 dollars a year, and one skilled widget machine operator at 20 dollars a year.
But, now I'm outputting 1000 widgets per year. Labor costs increased 4 fold, but efficiency increased 10 fold.
The reason it's bad wording is that, really, labor costs per unit actually went down ... where maybe he's calling that 'efficiency' ... and saying absolute labor costs rose. But no thinking businessman would think of it that way, assuming that's what he's getting at.
Re: America -> the free-er we are, the more we will kick ass. It is impossible to say what's next, new inventions, new paradigms. Every generation is trapped in their own paradigm, and can only envision 'more-better-faster' but along the same continuum they inhabit.
All that matters is freedom, that is why this was such a GLORIOUS, BEAUTIFUL, BEST ELECTION EVER!!!!!!!!
Mankind is at his best when free. Governments didn't invent economies ... it's the name we give to what men always did. Then governments wrote laws controlling economies and claimed economies wouldn't exist if not for governments ... that 'they created jobs'. Horsesh*t!!!!!
Every few days now it hits me that we aren't living under a dark cloud, where the leader of our country is against everything our country is actually about. It's so nice ... haven't quite grown accustomed to it yet.
I did however pick up 2 'Madame President' newsweeks on EBay today. Couldn't resist - the articles in it are hilarious. Woooohoooooooo!!!!!!!!!!!