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What's a post-industrial economy? Is it like an industrial economy that got tired, and needed a little sit-down while it's credit rating was still good?
by wisty 16y ago
What's a post-industrial economy? Is it like an industrial economy that got tired, and needed a little sit-down while it's credit rating was still good?
- Duff 16y agoPretty much. The US once created lots of stuff, now 31% of corporate profits are earned by the financial sector. (ie. passing our money back and forth) See: http://www.thestreet.com/story/11061024/1/the-cannibalization-of-entrepreneurship-in-america-expanding-financial-sector-depleting-pool-of-potential-high-growth-company-founders.html http://www.thestreet.com/story/11061024/1/the-cannibalizatio...
- chipsy 16y agohttp://www.msnbc.msn.com/id/41349653/ns/business-us_business/ http://www.msnbc.msn.com/id/41349653/ns/business-us_business... We still have a substantial manufacturing base, it's just that we've squeezed the jobs out of it by emphasizing high productivity and automation, while outsourcing the dirtiest work. The developing countries can enjoy more industrial jobs because their wages are lower, but the U.S. is already facing a "robot economy." We just haven't raised the question politically yet.