3 ms·
Another point to add, if there are less local manufacturing/physical labor jobs, market forces will incentivize innovation in other areas like infotech jobs, et
by staplers 3y ago
Another point to add, if there are less local manufacturing/physical labor jobs, market forces will incentivize innovation in other areas like infotech jobs, etc.
Not saying it's overall beneficial but it likely pushes the working class towards other areas like infotech and more specialized trades which could lead to innovation in those spaces.
Creates a trade dependency however.
- lenerdenator 3y agoIt does not likely do those things consistently on a national level. Information technology was great for a handful of states - well, cities, really; I can't help but notice the lack of a MacOS Bakersfield - but not across the geography of the United States. The capital concentrated in those areas to an absurd extent. During the low interest rate days, VCs in these areas were far more likely to invest in an absolutely terrible idea within a fifty-mile radius of their offices than they were to invest in a good idea 800 miles away. They also drastically overvalue businesses that can throw on a thin whitewash of "tech company" on an otherwise-conventional business model, even if the execution of that business model does poorly in actually producing value for the non-shareholder parts of the market economy.
- staplers 3y agowas great for a handful of states - well, cities, really I assume many government decisions around the world have similar effects. Can't imagine it's isolated to infotech or a specific sector.