[extropy-chat] 'Unskilled jobs to go in 10 years'

[Max M]

Brian Lee wrote:

> We get the benefit that the capital that would have gone to labor can 
> now go to more useful things.


Yes, I can buy stuff cheaper.

> The money you save buying cheaper goods allows you to purchase more 
> goods and services, etc etc.


Not really. It's not only about me. My neighbour who lost his job, can 
buy less stuff because of unemployment, and I can buy less stuff because 
my union fee/unemployment insurance rises in price.

> Jobs are really just displaced, not eliminated.


I didn't mean that they are eliminated. They are made less valuable. 
Makin stuff cheaper by using cheaper labor doesn't add wealth. Only 
increased productivity, new technology and more efficient markets 
creates wealth.

-- 

hilsen/regards Max M, Denmark

http://www.mxm.dk/
IT's Mad Science