Worldwide, we are seeing the end of manufacturing labor as well as the labor need in much of the service sector. The world is running out of much of the current need for labor. China and India didn't steal our middle class jobs, so much as provide a death row holding cell for jobs that one way or another are going to be automated out of existence. When was the last time you talked with your travel agent, insurance agent, telephone operator, etc., etc. ? Finally, as an example, China produces much of the world's clothing. They now produce over twice as much clothing as they did just 10 years ago. BUT, here is the real story - the Chinese clothing industry employs two million fewer workers today than they did 10 years ago, and they expect that clothing manufacturing jobs will continue to decline as output continue to go up. Why? Automation Technology. The Chinese manufacturing sector as a whole as it pertains to employment is expected to go into decline within the next few years, and dramatically so.
New York Times
comment on T. Friedman's
Average Is Over
Published: January 24, 2012
…in the 1920s and 1930s, when a US economy that was built on farm output became the victim of its own success. Advances in farming led to a food glut
. As food prices plummeted, farmers had less money to spend. This, in turn, depressed manufacturing and led to job losses in the cities, too. Land values in both places declined, impoverishing families and trapping them in place.
We remember this as the Great Depression
Why Going 'Back To Normal' Is No Longer An Option for the American Economy -- And Where We're Headed Now
We expect that economic factors—like continued fiscal deficits, ever-rising provincial health care costs and tightening labour markets—would be the political drivers for GAI [Guaranteed Annual Income] reform, more than social concerns. But there are solid economic, fiscal and social reasons to give a GAI serious consideration. If properly designed and implemented, the introduction of a GAI could be one of those rare moments in public policy when a win-win-win outcome is achieved, for society and for the individuals and families affected.
Guaranteed annual income – a Big Idea
whose time has yet to arrive
Posted on Tue, Dec 20, 2011, 1:21 pm by Glen Hodgson