Many of today's jobs "simply won't exist in the next decade, either entirely, or at the same number"

[Pksimon2007]

Does that make the hypothesis wrong?

yes you said we don't need everyone to work yet somehow almost everyone does despite idiotic liberal policies that make it very very hard to work.

- Economics 101 includes supply and demand. As the supply of labor increases relative to the demand for it, wages fall, and underemployment increases (exactly as we have been seeing).

So we don't need everyone to work, but PEOPLE still need to work, because that's how income is distributed.

So the hypothesis stands, and your objection, in a way, supports it.

Does that make the hypothesis wrong?

yes you said we don't need everyone to work yet somehow almost everyone does despite idiotic liberal policies that make it very very hard to work.

- Economics 101 includes supply and demand. As the supply of labor increases relative to the demand for it, wages fall, and underemployment increases (exactly as we have been seeing).

So we don't need everyone to work, but PEOPLE still need to work, because that's how income is distributed.

So the hypothesis stands, and your objection, in a way, supports it.

What is truly bizarre is that "reshoring" otherwise known as insourcing is really picking up steam as jobs leave China. However that is not resulting in more manufacturing jobs net in the US. The op-ed pieces pointing this out are all over the map. Marketwatch is the most accessible report I've seen on the subject.

- Manufacturing jobs are not what they once were. Part of that is probably the decline in labor bargaining power due to the decline in union influence, but a good deal of it is probably just a surplus of labor, which is probably partly demographic and partly based on increasing productivity.

Without a trade surplus or massive war spending, wages will probably continue to fall without some sort of intervention or very active federal fiscal policy.

Productivity is also not uniform in its effects, but seems to hit somewhere in the middle of the wage scale, at the very manufacturing jobs which were the backbone of our mid-century prosperity. The costs of replacing higher-end workers with machines are quite high, the yields from replacing counter clerks with machines are pretty low, but manufacturing jobs hit that sweet spot where the marginal efficiency of capital is right there with the opportunity cost. As interest rates fell, I think the yields on such productivity improvements fell as well, but employers were under the same pressures to increase productivity. Their response was largely to abuse salaried employees by demanding higher production, and to cut benefits in the absence of any real ability to cut wages - partly by making as many jobs as possible part-time.

Obviously, I think this supports the OP hypothesis.

 

[EdwardBaiamonte]

- Economics 101 includes supply and demand. As the supply of labor increases relative to the demand for it, wages fall, and underemployment increases (exactly as we have been seeing).
.

dear, unemployment is 5.5% after 50 years of the computer/tech revolution and after idiotic liberal policies that drove 40 million jobs offshore and gave 20 million jobs to illegals.

This proves that people have adapted easily and quickly to the technological changes. Do you understand now??

 

[Pksimon2007]

- Economics 101 includes supply and demand. As the supply of labor increases relative to the demand for it, wages fall, and underemployment increases (exactly as we have been seeing).
.

dear, unemployment is 5.5% after 50 years of the computer/tech revolution and after idiotic liberal policies that drove 40 million jobs offshore and gave 20 million jobs to illegals.

This proves that people have adapted easily and quickly to the technological changes. Do you understand now??

Right. Adapted, meaning wages went down, people work more at oart time jobs, and some got discouraged and left the workforce.

The miracle of the free markets!

 

[EdwardBaiamonte]

, but a good deal of it is probably just a surplus of labor, which is probably partly demographic and partly based on increasing productivity.

surplus of labor??? dear OMG are you slow and typically liberal. If it didn't happen when the population was 1 billion or 2 or 3 or 4 or 5 or 6 billion why would it happen now, and when unemployment is 5.5 %?

Do you see why we say the liberal will always be slow??

 

[EdwardBaiamonte]

- Economics 101 includes supply and demand. As the supply of labor increases relative to the demand for it, wages fall, and underemployment increases (exactly as we have been seeing).
.

dear, unemployment is 5.5% after 50 years of the computer/tech revolution and after idiotic liberal policies that drove 40 million jobs offshore and gave 20 million jobs to illegals.

This proves that people have adapted easily and quickly to the technological changes. Do you understand now??

Right. Adapted, meaning wages went down, people work more at oart time jobs, and some got discouraged and left the workforce.

The miracle of the free markets!

dear, unemployment is 5.5 % and income is down only slightly, and that is with idiotic liberal policies that offshored 30 million jobs, gave 20 million to illegals!! Do you understand??

 

[Pksimon2007]

, but a good deal of it is probably just a surplus of labor, which is probably partly demographic and partly based on increasing productivity.

surplus of labor??? dear OMG are you slow and typically liberal. If it didn't happen when the population was 1 billion or 2 or 3 or 4 or 5 or 6 billion why would it happen now, and when unemployment is 5.5 %?

Do you see why we say the liberal will always be slow??

- Perhaos your problem is that you really don't get how markets work at all, or understand the word "surplus".

See, if I have a billion people available and a billion jobs available, I have zero surplus.

If I have six billion people available and only five billion jobs, then we have a labor surplus.

A ratio requires two numbers. An you ask how, when the denominator is bigger, the ratio could possibly be different?

 

[EdwardBaiamonte]

Without a trade surplus or massive war spending, wages will probably continue to fall without some sort of intervention or very active federal fiscal policy.
.

dear, what about Republican capitalist intervention??? What would happen if you eliminated the highest corporate taxes in the world, made unions illegal again, and made deficits illegal. And what about if you shipped 20 million illegals home and ended the liberal war on the family and schools??

Do you understand?

 

[Stephanie]

- Economics 101 includes supply and demand. As the supply of labor increases relative to the demand for it, wages fall, and underemployment increases (exactly as we have been seeing).
.

dear, unemployment is 5.5% after 50 years of the computer/tech revolution and after idiotic liberal policies that drove 40 million jobs offshore and gave 20 million jobs to illegals.

This proves that people have adapted easily and quickly to the technological changes. Do you understand now??

Right. Adapted, meaning wages went down, people work more at oart time jobs, and some got discouraged and left the workforce.

The miracle of the free markets!

wow, that's all it takes for you people today to LEAVE the workforce? and OMG they had to work over time. well my goodness

I guess none of you have families to support. It used to be when a someone had to get by in down times, they would work two, three jobs to TAKE CARE OF themselves and their family before they would even consider going on Unemployment/taxpayer gravy train

 

[EdwardBaiamonte]

If I have six billion people available and only five billion jobs, then we have a labor surplus.

100% liberal an stupid of course. The law of supply and demand states that at a certain price supply and demand are equal.

Do you understand??

 

[Stephanie]

If I have six billion people available and only five billion jobs, then we have a labor surplus.

100% liberal an stupid of course. The law of supply and demand states that at a certain price supply and demand are equal.

Do you understand??

no kidding. lol

 

[Pksimon2007]

- Economics 101 includes supply and demand. As the supply of labor increases relative to the demand for it, wages fall, and underemployment increases (exactly as we have been seeing).
.

dear, unemployment is 5.5% after 50 years of the computer/tech revolution and after idiotic liberal policies that drove 40 million jobs offshore and gave 20 million jobs to illegals.

This proves that people have adapted easily and quickly to the technological changes. Do you understand now??

Right. Adapted, meaning wages went down, people work more at oart time jobs, and some got discouraged and left the workforce.

The miracle of the free markets!

wow, that's all it takes for you people today to LEAVE the workforce? and OMG they had to work over time. well my goodness

I guess none of you have families to support. It used to be when a someone had to get by in down times, they would work two, three jobs to TAKE CARE OF themselves and their family. and before they would even consider going on Unemployment/taxpayer gravy train

- I was unaware that we were talking about either you or me.

I know it can be difficult to wrap one's head around the idea that there are lots and lots of people in the world, but we're talking about really large numbers of people here, so we look at what we call "statistical" measures.

And even though it might be difficult to put yourself in someone else's shoes and look, in your mind's eye, how they might deal with their circumstances, the miracle of statistics tells us that people do get discouraged and leave the work force, regardless of whether you can imagine yourself doing it or not.

 

[EdwardBaiamonte]

Obviously, I think this supports the OP hypothesis.

op says many current jobs wont exist in next decade yet here we are at 5.5 % unemployment 5000 years after the wheel was invented and 50 years after the computer was invented , and that is with lib soviet policies that destroyed around 50 million jobs in the USA!!

 

[Pksimon2007]

If I have six billion people available and only five billion jobs, then we have a labor surplus.

100% liberal an stupid of course. The law of supply and demand states that at a certain price supply and demand are equal.

Do you understand??

You may not want to challenge me to that debate. Its a little more complex than you seem to think.

Just excuse you're an expert in economics, let's just start withe law of demand, which states that the quantity demanded decreases as price increases, PROVIDED......

There's a textbook condition which must be met.

Do you remember what it is?

 

[Moonglow]

Obviously, I think this supports the OP hypothesis.

op says many current jobs wont exist in next decade yet here we are at 5.5 % unemployment 5000 years after the wheel was invented and 50 years after the computer got popular, and that is with lib soviet policies that destroyed around 50 million jobs in the USA!!

Do you use lubricant when you shoot off those loads,,,,,of lies???

 

[Pksimon2007]

Obviously, I think this supports the OP hypothesis.

op says many current jobs wont exist in next decade yet here we are at 5.5 % unemployment 5000 years after the wheel was invented and 50 years after the computer got popular, and that is with lib soviet policies that destroyed around 50 million jobs in the USA!!

- Would you work for a penny an hour?

(We have to try a different approach here, to see if you can grasp this).

 

[EdwardBaiamonte]

, the miracle of statistics tells us that people do get discouraged and leave the work force, regardless of whether you can imagine yourself doing it or not.

the sharp drop in U6 tells us that the discouragement follows the general economy. As libsoviet intervention harms the economy people get discouraged and as liberals get out of the way and let the free market self correct people get less discouraged.

Do you understand??

 

[EdwardBaiamonte]

- Would you work for a penny an hour?

100% stupid. With new Republican inventions you have new wealth and therefore increasing wages. Now you know why we have steadily gotten richer rather than poorer.

Do you understand?

 

[Pksimon2007]

, the miracle of statistics tells us that people do get discouraged and leave the work force, regardless of whether you can imagine yourself doing it or not.

the sharp drop in U6 tells us that the discouragement follows the general economy. As libsoviet intervention harms the economy people get discouraged and as liberals get out of the way and let the free market self correct people get less discouraged.

Do you understand??

I understand that nothing you say addresses the issue, lol.

 

[Pksimon2007]

- Would you work for a penny an hour?

100% stupid. With new Republican inventions you have new wealth and therefore increasing wages. Now you know why we have steadily gotten richer rather than poorer.

Do you understand?

Seriously - you're a Poe experiment, right?

Like the opposite of a Turing machine?

 

[EdwardBaiamonte]

I understand that nothing you say addresses the issue, lol.

too stupid!! wealth and wages are going up thanks to new inventions so one penny an hour is the opposite of what we face.