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> Our abundance is increased by specialization not a lack of it. Specialization and trade allow for higher-order goods to be used as inputs to produce lower-ord
by gkafkg8y8 10y ago
> Our abundance is increased by specialization not a lack of it. Specialization and trade allow for higher-order goods to be used as inputs to produce lower-order goods. Farming doesn't just require a tractor and some land. You need fuel to run the tractor, other industries to come together to make the tractor, a merchant to purchase the tractor from, and on and on.
Agree with this. And, as jobs are replaced by computers/automation, there will be other jobs created through specialization; however those new jobs will be new niches that will require people to learn new skills or be trained, and unless the money is there for that retraining, then you have a risk of years of unemployment.