On 2013-09-17, Larry Jaques wrote:
On Mon, 16 Sep 2013 10:20:56 -0500, Ignoramus14718
wrote:

On 2013-09-16, Pete C. wrote:

Ignoramus8750 wrote:

http://www.technologyreview.com/view...mputerization/

Report Suggests Nearly Half of U.S. Jobs Are Vulnerable to
Computerization

The thing that is missed in many of those articles is that many of the
automatable jobs cease to exist when the jobs are not available to human
workers who can then earn an income and be consumers for the products of
the jobs. It doesn't matter how many widgets your automated factory can
produce when there are no buyers for them.

This is exactly right. It is a new equilibrium. The old equilibrium
was, workers worked at factories to make goods that then are sold to
those same workers.

The new equilibrium is, workers are not needed to make goods, which
are no longer made to sell to workers, since the workers have no
money to buy goods.

Exact same thing applies to services.

This is all why I m very worried about the future.

I'd start restocking that home shop of yours, Ig.
Damn the Wifey, Full Speed Ahead!


This will go on on the scale of decades, the food will go stale.

i