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I think anything that brings value up the market will benefit consumers. Let me quote from Mark Mills of Forbes, where he explains that, although a tiny fractio
by euroclydon 15y ago
I think anything that brings value up the market will benefit consumers. Let me quote from Mark Mills of Forbes, where he explains that, although a tiny fraction of a percent of the U.S. population works in agriculture today versus 100 years ago, much of that population is now involved in food preparation.
Roughly a century ago when America had fewer than 100 million citizens, nearly 12 million worked on farms, a number that then comprised over 40 percent of the entire labor force. Now barely three million people call themselves farmers, accounting for a shade over two percent of today’s workforce. Meanwhile, technology enabled a 600 percent growth in agricultural output.
Both in absolute and relative terms technology blew the lid off agricultural productivity, and crushed direct farm employment. But, over that same century, somehow the American economy managed to generate enough wealth to create jobs for more than 100 million more workers.
Most of the new employment over the past century came from new services and new products that didn’t exist in 1900 – airlines and computing to name only two examples. It is worth noting that a lot of the new employment actually came from the same industry, food, as farming. It’s just that we count the jobs differently. While barely two percent of the modern American workforce is in farming, over 15 percent work in the food industry.
What is the next step beyond food service?