An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
The mass unemployment phenomenon that is being observed is not freeing people up to undertake greater challenges. Instead, a segment of the population is being marginalized. If we continue to insist upon the profit motive as the only criteria by which we undertake challenges, then unemployment will worsen. This is a symptom of increasing productivity due to competition and innovation.
A glance at the labour participation rate shows that we have a segment of the population whose function is to consume what others have produced. There are various ways to address this, including the approach of ignoring it as an issue.
Dismantling social safety nets in the current economic climate is an excellent way to encourage change. I'm saying this while wearing my Machiavellian helmet.
Don't be despondent or frustrated gentlemen, there will be another economic crash, with all of the opportunities and unpredictability that such events provide.
2 comments:
Roger good point about "robots" !
NEVER heard that analysis ANYWHERE else than here!!!!!
Everyone else is afraid of "robots"... (dystopia mania....)
Mike...... you're back!!!! ;)
The mass unemployment phenomenon that is being observed is not freeing people up to undertake greater challenges. Instead, a segment of the population is being marginalized. If we continue to insist upon the profit motive as the only criteria by which we undertake challenges, then unemployment will worsen. This is a symptom of increasing productivity due to competition and innovation.
A glance at the labour participation rate shows that we have a segment of the population whose function is to consume what others have produced. There are various ways to address this, including the approach of ignoring it as an issue.
Dismantling social safety nets in the current economic climate is an excellent way to encourage change. I'm saying this while wearing my Machiavellian helmet.
Don't be despondent or frustrated gentlemen, there will be another economic crash, with all of the opportunities and unpredictability that such events provide.
Post a Comment