Manufacturing job openings

Investment Analysis Clubs Macro Economic Trends and Risks
71

Capitalist policies that drive wages lower create more poor?

Steve

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72

Capitalism lifts millions out of poverty. It rewards innovators like Jobs, Musk, Bezos and Gates.

Socialism makes everyone poor. The weak like socialism.

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73

…unless you’re a banker or investor in 2008.

Pete

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74

Judging the success of an economic system based on how many ridiculously rich people it creates is a poor measure. Judging the system by how well it does society overall, and the bulk of its people, is what matters. American capitalism today is clearly failing at this.

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75

Why do poor people from other countries try to come to America ?

You guys live in fantasy land.

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76

You don’t care that Average Joe is falling behind. You only care that Musk is stupidly rich.

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77

Yes, Musk creates hundreds of thousands of jobs and moves the world forward with innovation in energy, space, transportation and health.

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78

There was a similar time in American history called the Gilded Age. There were people of immense wealth - Carnegie, Rockefeller, Ford, etc. and huddled masses in a desperate underclass who could barely feed their families.

There were parallels later in 1920’s Germany, with a few ultra wealthy families but terrible economic privations for most.

In both cases there was a significant backlash. The Communists/communists began making inroads into American political life in the 1930’s as people looked for a more equitable system. Unions became popular, even necessary as a check on the unbridled power of the factory owners. It might be remembered that in 1930’s Germany it was the party with “Socialist” in their name which took root.

If a system does not provide well for the masses, it will be torn down. The lesson has been learned again and again (see: French Revolution) but some people think “it’s different this time.” It’s not, and closing your eyes to the situation doesn’t make it go away.

Just a tip for those with wealth to protect.

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80

People that steal from their employer are weak. They use their Employer’s resources to enrich themselves instead of working for their money.

86

True dat. People who choose to keep their head in the sand aren’t great students of history. I suppose that’s why we have to keep learning the same lessons over and over again.

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87

Let’s be clear on the origin of productive capital.

All productive capital derives from labor its ultimate origin, continuing maintenance and ongoing development.

If you don’t believe that, let’s do the experiment of having labor stop tomorrow and watch what happens.

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88

Eventually. But that ‘eventually’ can be a long time coming. Look at the old Soviet Union and now Russia.

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89

There must be a disconnect in the logic here.

In the past and the present, we have individuals who are not satisfied with their station and are working 2 or more jobs and hustling to handle anything additional.

Success looks a whole lot like perspiration.

For those who are not capable, or are satisfied with their current job and station, there is no additional hustle.

For those who are depressed or incapable of income creating activities there are many more options, the street, the family/friend’s couch, .gov assistance, illicit activities, prison, rehab, and any number of other alternatives.

A job has NOTHING to do with income/budget/monthly requirements.
Payment for a job has NOTHING to do with income/budget/monthly requirements

Talent, work ethic, desire, - some luck… these are balanced against wage rates.

<— I’ve been working a job which pays 45% less than my personal peak earnings for more than a decade. I’m sure I could find something that pays more. I bet I could find a second or third opportunity to produce income beyond my current state.

But I haven’t as of yet. It’s enough.

At some level, everyone asks that question to themselves - even daily. Why should we get all wound up trying to tell somebody why they are not happy? or worse, why their current situation is inadequate?

Commercials and TV do no favors to help people keep their point of view centered on “enough”.

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90

Of course both are needed. However, it is capital that provides the leverage (productivity increase).

To take a simple example, let’s say you want a swimming hole in your back yard. It is the backhoe that makes it possible unless one wants to spend months (years?) with a pick and wheelbarrow.

DB2

91

Who designed and fabricated the backhoe?
The swimming hole?
The back yard?

Which completes the swimming hole first:

Human with human-fabricated pick and wheelbarrow but no backhoe?

Or

backhoe with human-fabricated pick and wheelbarrow but no human?

Answer: human.

You seem content to have labor receive incrementally less as total production (and labor productivity) trends up, is that true?

Seems like a really bad idea to me.

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92

That’s very true. Some operations require higher equipment costs versus labor costs. But…we’re still not at the point where labor costs are a non factor. There are technologies advancing remote equipment operation, but there are still humans involved. Using those technologies requires paying trained operators more, not less. We very well could end up with fewer operators, but they will be paid significantly more.

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