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Author Topic: The Book of Jobs  (Read 289 times)

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Offline crustylicious

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The Book of Jobs
« on: December 09, 2011, 01:38:49 PM »
Forget monetary policy. Re-examining the cause of the Great Depression—the revolution in agriculture that threw millions out of work—the author argues that the U.S. is now facing and must manage a similar shift in the “real” economy, from industry to service, or risk a tragic replay of 80 years ago.
 
http://www.vanityfair.com/politics/2012/01/stiglitz-depression-201201
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Offline charles p

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Re: The Book of Jobs
« Reply #1 on: December 10, 2011, 10:25:08 AM »
At first I thought you were referencing the Book of Job in the Bible.  It's pretty sad too.
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Offline NWBear

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Re: The Book of Jobs
« Reply #2 on: December 12, 2011, 11:27:24 AM »
The "export" of manufacturing will be felt in many ways, but especially the loss of "family wage" jobs.  You can not live comfortably on 2 (man and wife) minimum or near minimum wage jobs without benefits.  This type of income WAS provided by many manufacturing jobs that have now gone to China and other low wage countries.  Unfortunately this lack of income results in a lack of spending for other things which in turn causes other to lose their jobs and the whole thing just spirals down.
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Offline gypsyman

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Re: The Book of Jobs
« Reply #3 on: December 12, 2011, 01:48:14 PM »
How many items can you own, that will require a ''service'' job. The way China is producing everything from toasters to refrigerators and cars, how can anybody make a living, servicing an item, when it's cheaper to throw it away, and get a new one. Nobody fix's an electronic device anymore,(DVD's,TV's,refrigerators and such) It costs to much to fix it, it's cheaper to throw it away, and get a new one with a warranty. Farmers that produced food for 50 family's, now have the equipment to produce food for 500. Far fewer farmers, plus they have the big agri-business's,(Con-Agra, Libbey,DelMonte,etc) Cars that with nothing more than an oil change, can go well over 100,000 miles. Their catching up on the nurse shortage, and how many people can work in the health care field, if all the elderly are getting their medical cut.(Thank you Obama) I remember a friend of mine had this very conversation when Bush mentioned it in a speech many years ago. We figured that it wouldn't work then, and I still believe that now. gypsyman
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We keep trying peace, it usually doesn't work!!Remember(12/7/41)(9/11/01) gypsyman
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