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Don't forget that we haven't just developed from Agrarian to Industrial. At this point we're Post-Industrial, and most of the job growth is not in production an
by bluefirebrand 2y ago
Don't forget that we haven't just developed from Agrarian to Industrial. At this point we're Post-Industrial, and most of the job growth is not in production anymore.
Most jobs nowadays are in Service, which is a much lower growth model than Production. Production scales with capacity to produce, which has seen massive growth due to automation
Service scales on how many people you can serve, which is more or less linear, or maybe even negative growth. Automation gains in service industry mostly doesn't augment humans, it replaces them
Service income however scales based on how many customers you have and can process.
So we're in a very weird place where a ton of business is based on Service, so they want to grow the number of customers they have access to, but people cannot find good paying jobs to consistently even afford to pay for service
Seems like a bit of a death spiral to me