Theo_Fidel wrote:I assume you mean the IT/Internet bubble when you mention 2000. The truth is for every IT/Internet job created 5 jobs were destroyed elsewhere. This unfortunately how efficiency functions.
You got it backwards. Sticking to inefficiency for the sake of preserving jobs guarantees one thing - bankruptcy and joblessness.
Increased efficiency creates/saves jobs not destroys it. Moreover the jobs that are created are sustainable. The reason for this is because effiency allows for outcompeting international competitors and maximizing profitability - without which the company would be out of business with ZERO jobs. No company survives by reducing efficiency - unless of course its a public sector union or useless middleman sector living off the productive (private sector) economy.
Jobs are created when money is directed to creating additional services , goods and products for people.
Sustainable jobs are only created when these services and goods turn a profit in the free market, not merely when goods are created and not when govt subsidizes the production or consumption of those goods & services.
Banks leeching off the productive energies of society for instance does not create any productive jobs but rather destroys it. People who are being productive have their savings & investments looted from them through money printing & taxation to support a bunch of thieves doing nothing productive (more like destructive).
With out improving the earning capacity of people, economy is going no where. This latest attack on union jobs and government jobs was particularly senseless. Destroying the very people who can support the economy.
Public sector unions do not support the economy but rather exist as a result of it.
Where do you think the money to sustain govt union jobs is coming from?
For every dollar a public sector union worker makes, a dollar (more like a dollar + administrative costs) has to be CONFISCATED
from the private sector (read : productive economy). The private sector is the main pillar holding up the entire economy without which there would be no public sector union jobs nor government for that matter.
Private sector businesses are put that much closer to bankruptcy
(read : productive jobs destroyed) with every dollar that is taken from them to finance govt bloat. The optimal use of the private sector profits is towards expanding/improving their own
businesses, not supporting a big govt beaurocracy & public sector unions, the useless middleman industry or other dead weight.
Simply put, the reason the economy is going down hill is because the scamming sector (banking & financing) has grown so large and so destructive along with the ever expanding size of government that the cost & expense of those NON-PRODUCTIVE sectors is destroying the private sector.
Right now in the USA the top 2% takes home 45% of wages and holds 60% of wealth.
Here I separate out the people who created wealth through doing productive work in the private sector (e.g. Bill Gates, Steve Jobs..etc) and the useless middleman sector that makes its money through fraud (e.g. Goldman Sachs). The former deserve to keep & spend their wealth as they please for they have earned it and the economy is better off as a result of their inventions & ingenuity. The latter derived their wealth by stealing it from the productive private sector (destroying the economy) through scams and are not entitled to that money in the first place.