Re:Welcome to the Lost Decade (for Entrepreneurs, IPOs, and ...
by jbooth on Thursday July 15, 2010 @01:39PM
(#1518483)
Very true, but still not a great place to be. Whether the boogeymen are robots or chinese workers, not having a market for manufacturing labor is a bad position for an economy.
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Re:Welcome to the Lost Decade (for Entrepreneurs, IPOs, and ...
by dstorrs on Friday July 16, 2010 @05:57AM
(#1520753)
Serious question: why?
I understand an economy that does not produce any of its own goods is in a jam -- it's an external critical dependency that can be wielded like a club against you. But if you have adequate internal production, what does it matter if it's done by humans, robots, or hyperintelligent cyborg orangutans? It may take a generation or so, but the people who would have been manufacturing labor will be absorbed into other markets -- or should be, as I understand it.
Re:Welcome to the Lost Decade (for Entrepreneurs, IPOs, and ...
by jbooth on Sunday July 18, 2010 @02:29PM
(#1526365)
Should be? Why?
If "absorbed into other markets" means "wal-mart greeter", then that's bad. I'm all about efficiency and won't advocate make-work jobs, but if you don't have a base of demand in the form of a healthy middle class, it's hard to find people to buy the goods that you do manufacture.
Re:Welcome to the Lost Decade (for Entrepreneurs, IPOs, and ...
by c1sc0 on Friday July 16, 2010 @09:25AM
(#1521041)
I'm not sure how that affects the economy, but it certainly is a bad thing for a country. Not everyone can be a white-collar button-pusher; if no labor-based jobs exist anymore you'll make a significant portion of your citizens very unhappy