3 ms·

> Once China figures out tech and India takes American services, America has nothing. This is an economically illiterate argument - it ignores the fact that ne

> Once China figures out tech and India takes American services, America has nothing. This is an economically illiterate argument - it ignores the fact that new jobs are created precisely when old ones become redundant. It's like saying that China and India "have nothing" because first-world countries have figured out everything already. It's good for a country when others become better at what they're doing - that's what enables broader supply chains, bigger markets and ultimately a higher variety of products and services.

amazingamazing 2y ago
new jobs are not created precisely when old ones are redundant, lol - that’s wishful thinking. you think every manufacturing job taken from the USA was matched 1-1, the quality of job is very different. losing a manufacturing job and gaining a job at Wendy’s is hardly a good trade.
- matwood 2y ago
  Those jobs will be gone soon anyway due to automation. They are not coming back now or ever. The US also manufactures a lot right now, second only to China. The US failed by not using the huge prosperity it gained to put the social programs in place to help those people pushed out of manufacturing.
dumbledoren 2y ago
> it ignores the fact that new jobs are created precisely when old ones become redundant That did not happen after the electronics revolution changed manufacturing starting in the 1970s. Factories that needed thousands of workers to manufacture a certain car model for large regions started to be run with only a few hundred workers. Same for other manufacturing fields. The Western countries directed all the resulting excess workforce to sectors like finance, law, tech and services, but with AI and the zero interest economy ending all of those sectors are also coming crashing down. So no, technological advancement and automation really reduced the workforce need and did not replace it with new jobs.

amazingamazing 2y ago

new jobs are not created precisely when old ones are redundant, lol - that’s wishful thinking. you think every manufacturing job taken from the USA was matched 1-1, the quality of job is very different. losing a manufacturing job and gaining a job at Wendy’s is hardly a good trade.

matwood 2y ago
Those jobs will be gone soon anyway due to automation. They are not coming back now or ever. The US also manufactures a lot right now, second only to China. The US failed by not using the huge prosperity it gained to put the social programs in place to help those people pushed out of manufacturing.

dumbledoren 2y ago

> it ignores the fact that new jobs are created precisely when old ones become redundant That did not happen after the electronics revolution changed manufacturing starting in the 1970s. Factories that needed thousands of workers to manufacture a certain car model for large regions started to be run with only a few hundred workers. Same for other manufacturing fields. The Western countries directed all the resulting excess workforce to sectors like finance, law, tech and services, but with AI and the zero interest economy ending all of those sectors are also coming crashing down. So no, technological advancement and automation really reduced the workforce need and did not replace it with new jobs.