A bit about our economy
Even though the U.S. is the biggest manufacturer in the world, our manufacturing work force has and is declining. So how did we get here? Through technology. And what does it mean? That our output has increased seven times as our manufacturing work force has gone from thirty to ten percent over the past fifty years. The problem, as we continue to move from a manufacturing economy to a service based one, is that the wages of the service jobs are a third of what the manufacturing jobs paid. Thus the standard of living decreases and the gulf between rich and poor grows further apart as the middle class disappears. And over the last fifteen to twenty years, we've seen an acceleration in this shift.
Now I would never apologize about using technology to create increased productivity but we should recognize the effects of this shifting economy on everyone when forming economic policy.
Now I would never apologize about using technology to create increased productivity but we should recognize the effects of this shifting economy on everyone when forming economic policy.
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