"Technology has vastly reduced the number of workers and resources that are required to make what the planet needs. This means that a small number of people, the people in control of the creation of goods, get the benefit of the increased productivity. When we get to the end of this curve and everyone can, in essence, be their own manufacturer, things will be good again. But until we can ride this curve to its natural stopping point, there will be much suffering, as the jobs that technology kills are not replaced."
The political implications of this are staggering. Clearly, more and more jobs will move from more developed nations to countries like China, and it is difficult to see how, as this process continues, the United States retains its leadership position. In fact, it seems entirely possible that the U.S. will exchange places with less well-developed nations."
As wages and capabilities of workers in countries like China and India increase, the wages for people in the US doing those jobs will decrease. Over a long period of time, there will be an equalization of what people in the US and these other countries make, which means US wages will come down while wages in China and India will increase.
Source From the Blog: Why does Everything Suck?Do you agree that globalization means that American's salaries will continue to decline?
"Technology has vastly reduced the number of workers and resources that are required to make what the planet needs. This means that a small number of people, the people in control of the creation of goods, get the benefit of the increased productivity. When we get to the end of this curve and everyone can, in essence, be their own manufacturer, things will be good again. But until we can ride this curve to its natural stopping point, there will be much suffering, as the jobs that technology kills are not replaced."
Comments (4)
I think I read somewhere that technology creates more jobs than it kills.
As it stands, it is often more cost effective for a company to produce their products in countries with lower labor costs. To make it more cost effective for companies to produce their products in the US, either labor costs need to drop in the US or productivity and quality need to increase in the US. Or labor costs need to rise in other countries and quality/productivity need to be stagnant/drop. I know what I think will happen first.
As the first commenter stated, technology has created more jobs than it replaces, it's just that different workers are doing the new jobs while the old workers search for something else.
This is unbelievably wrong. As long as China still has tons of kids, their wages won't go up.
china's wages won't go up. and it's hurting our economy. i think companies need to stop thinking about how to make a profit by outsourcing, and think about the long-term affect. bring those jobs back to the u.s. also, labor unions need to be realistic with their demands. we had a massive budget cut in california, and the labor unions wanted higher wages for their workers, knowing full well that there were no funds to pay these workers and such an agreement would mean handing out a lot of pink slips.
we all need to work together to get the country back on its feet again.