News for hackers. Stuff that matters.

A comment on Why the Internet is creating more value than jobs. Parent comment

Re:Why the Internet is creating more value than jobs by angstrom on Thursday February 10, 2011 @10:48PM (#2205090)
While I agree that it frees up manual labor it raises another specter. The unskilled manual farm-hand labor shifted to unskilled manual manufacturing labor.

We're now telling people well past their prime to switch to more cerebral jobs because we've automated or outsourced the low-skill value added jobs and the pool of what's left drives down wages further due to all the people competing for them.

The problem is that we've increased productivity efficiencies and passed the savings onto the shareholders. A free market is efficient, not perfect.

[ Parent | on HN ]
Re:Why the Internet is creating more value than jobs by stretchwithme on Thursday February 10, 2011 @11:19PM (#2205147)
Frankly, I don't see how it is a problem. It is a continuous process in a developing economy. And its the process that makes capital available for all kinds of human investments.

I can assure you there is job security in a completely stagnant economy. But not very much capital for education, startups or mortgages, or freedom to live your life and take the risks that make it worth living.

[ Parent | on HN ]