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> We have been told that international free trade benefits us all. If you have 10 jobs paying people $10, and replace them with 50 jobs paying people $1, but k
by forthefuture 10y ago
> We have been told that international free trade benefits us all.
If you have 10 jobs paying people $10, and replace them with 50 jobs paying people $1, but keep the prices of the products the same; 10 people now don't have jobs, and 50 people each don't make enough money to buy any products. You've increased productivity 5x and cut costs in half but all of the gains go to shareholders.
> A more educated workforce should be able to produce more and better goods for us all.
Same as above.
> Automation...has, at times, apparently made us vastly richer.
Same as above.
> I think there is a larger issue at the root: debt.
It's the same issue. Debt is just another thing to rent to poor people.
- carsongross 10y agoI largely agree with your points. I was making the point that "polite intelligent society" does not. On debt, you really should read Keen. He has the only predictive economic model I've seen that actually works, and debt is the crucial factor.