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We're both kind of guessing :) but I'd suspect financialization before I suspected computerization. This is total observer bias, but what I have seen is some pr
by ArkyBeagle 11y ago
We're both kind of guessing :) but I'd suspect financialization before I suspected computerization. This is total observer bias, but what I have seen is some productive asset get sold and resold, and the accumulated debt strangles it. Computerization took the form of sheet metal shaping, CNC, order management and mainly tended to reduce error more than it replaced skilled labor.
We also had the big China buildout which idled a lot of factory labor. I'd be willing to expect that to reverse course over the next decade.