Quote:
Originally Posted by Adder
That you haven't been talking about them does not mean that no one has.
Also, you're probably wrong about what they are.
That's because it's mostly mythical and/or a non-issue. We simply do not have teeming masses of unused labor.
Might we if automation happens at an ever increasing rate? Maybe, but probably not. Because (1) we don't now and automation isn't new, and (2) people are usually pretty good coming up with other stuff to do.
But I know, you want a neat little story that explains everything and it's not satisfying that a decade from now millions of people will be working in some industry that you and I have not thought up yet.
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Wage stagnation has remained a persistent problem since 2008.
And labor participation is not explained by boomer retirements. That’s the herd talking. Consider how many retirees don’t have enough to quit, and remain in the workforce.
This isn’t a neat narrative. It’s immensely complex. Far too complex to be shrugged off with a historical analysis of “cycles” from a “science” about as accurate than one’s palm reader.
This tech thing’s been with us for a few decades now. If you were correct about new tech creating more and better jobs over a relevant timeline, new jobs would be outstripped able bodies to fill them 2:1.
ETA: Each recovery since 1990 has been categorized as jobless. Quite accurately, particularly if one looks at jobs paying living wages, rather than low end service jobs.
