On Tue, 06 Nov 2012 19:49:27 -0500, Tom Gardner Mars@Tacks wrote:

On 11/6/2012 7:35 PM, John B. wrote:
On Tue, 06 Nov 2012 17:27:40 -0600, Ignoramus5113
wrote:

On 2012-11-06, Michael A. Terrell wrote:

Ignoramus5113 wrote:

On 2012-11-06, Karl Townsend wrote:
...
This fundamental issue is also combining with automation to further
erode the ability of a country's economy to gainfully employ the
majority of it's population. When the production of all the products and
services required by 100% of the population only requires 20% of the
population's labor you have another serious problem that has no easy
solution.

The easy solution is called a service economy. Nobody said that
"production" is the only real economic activity.


'Service Economy' is a myth. It doesn't create anything by itself,
it just bounces the same few dollars around.

Let's say that you give me a chunk of metal and I make you an object
from this chunk of metal, that you need. You pay me for it. That's
manufacturing.

Now let's say that tomorrow you come to me and I cut your hair
instead. That's service.

It is manufacturing on one day and service on another.

But the economic difference is not huge.

i

Very hard to export haircuts :-)


But you could export hair. Would that be manufacturing or agriculture?

Sure, you get a bunch of women growing the hair and you pay them for
their product and export it. About like growing apples, I guess.
--
Cheers,
John B.