[jboot]

Although I agree with you, rapid advances in productivity are leading the growth strategy to a point of diminishing returns. Nifty new industries will hire small cadres of highly skilled workers to build and maintain their automated infrastructure, but there will be a diminishing need for less-skilled labor even in a growing economy.

Most of these less-skilled workers are not going to move into management. Most of them are not going to become entrepreneurs. Most of them are not going to take unskilled jobs because they cannot compete with imported labor. Most of them will become chronically unemployed. I don't have a solution to the problem.

[CSM]

If we didn’t have so much government interference, some solution would be created. That is the way it has always been and always will be. Capitalism is “magical” in such things...

However, with the level of government intrusion into the market, you are right. We will have a population of unemployable folks that won’t do anything to better themselves. They will be just comfortable enough to sit around and complain about the “rich” people that go to work.

[CSM]

Plus, if a solution to the problem arises, like a nifty new industry, then it will be in spite of the government.