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Usually not a fan of zerohedge, but they sometimes make some insightful graphs: http://www.zerohedge.com/news/2016-04-01/waiters-and-bartenders-rise-record-manu
by jcfrei 11y ago
Usually not a fan of zerohedge, but they sometimes make some insightful graphs: http://www.zerohedge.com/news/2016-04-01/waiters-and-bartenders-rise-record-manufacturing-workers-drop-most-2009 http://www.zerohedge.com/news/2016-04-01/waiters-and-bartend... They show how waiters and bartenders increased dramatically relative to manufacturing jobs. So it seems to me that high value/margin production is much more likely to be automated and results in big productivity gains for those companies. These workers then find jobs in low production value jobs (or businesses which require low capital investment - for lack of a better word). Ie. machine operators turn into waiters. In summary the productivity gains in one industry are offset by more staff in another. There's more staff in the service industry working for lower wages (think UBER, etc.). Is that plausible? And is there a productivity analysis for each industry?
- raverbashing 11y agoYes, ZH can be a good source of info, but it has to have an amount of filtering and de-sensationalizing