Re:Companies spend on technology, not workers
by yummyfajitas on Friday June 10, 2011 @09:03AM
(#2640675)
Many of the companies that failed were unproductive. For example, any company building or selling houses we don't need is unproductive.
It is ridiculous that 7 million unproductive people were cut. In actuality, it was more like 70 million people, productive and not, who were cut. This is only marginally more people than in normal times.
The idea is that among those 70 million people (probably a bit less, if some people were fired twice), most of the productive ones found jobs. The remainder were not rehired.
It is ridiculous that 7 million unproductive people were cut. In actuality, it was more like 70 million people, productive and not, who were cut. This is only marginally more people than in normal times.
(Data gathered by eyeballing the graph here: http://modeledbehavior.com/2011/06/05/strolling-through-the-... )
The idea is that among those 70 million people (probably a bit less, if some people were fired twice), most of the productive ones found jobs. The remainder were not rehired.