TheKnightWho
Established Member
Well judging by your responses you must believe that the governments reaction to the Port Talbot jobs losses was a massive overreaction as society would "adapt" to all those job losses with innovation. You must believe that Morgan Stanley's threat to move thousands of jobs abroad post Brexit is no worry at all as society will again "adapt" to all those losses as well. I'm presuming the BoE cutting interest rates to an historic all time low is also a massive over reaction because the economy can easily sustain any job losses because innovation will provide plenty more jobs. Ow sorry I have no clue about how the economy works so how could I possibly understand the BoE base rate or quantitative easing or inflation. What a massive simpleton I am :roll:
I don't believe in a completely free market with absolutely no governmental oversight. Go burn your strawman elsewhere.
I just think that your total outrage over any kind of job losses due to technological advancement is short-sighted, lacks economic understanding and, frankly, I think your proposed solution is about the worst economic idea I've heard all year. Understanding basic concepts like interest rates does not make you an economic expert. You can't crow about how the economy doesn't always sustain optimal employment rates when there are factors such as, you know, Brexit or other economic shocks that cause issues. The difference is that those job losses are temporary (i.e. only last a few years) and are made up for as the graph of unemployment levels showed you. If technology was causing job losses, there would be a constant trend and not a short-term shock.
Also, for someone who dismissed all of economic history as irrelevant when discussing the possible future, you sure are keen on economic evidence when it suits your position. It's this kind of incoherence and contradiction that means I can't take you seriously. It also makes no sense how you say that you can already see these job losses happening around you and the economy is worse off for it, yet when presented with statistics showing that you're wrong you say "well all those jobs can be automated in the next 50-100 years!" - well that's as well maybe (and I'd still dispute it), but it still doesn't make your incorrect perception that current job losses are outweighing job creation are less false. There's a jumble of contradictions going on here.
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I am but TheKnightWho is determined to bring current economic figures into the discussion so I thought I would bring some sense of reality to their theories that the economy is flourishing presently and that society always adapts to job losses.
No-one said the economy is always flourishing. As I have stated repeatedly, we are talking about long-term trends. If you can't distinguish between shocks to the economy and your hypothesis that unemployment will increase over time then I really do despair. As I have already stated (a phrase I seem to be using a lot), job losses cannot be made up for immediately. That doesn't mean there's an economic catastrophe as the data suggests unemployment has been decreasing, and is set to increase within normal levels. If you want to talk about the next 50-100 years you're going to have to explain how no new innovations, economic or social paradigms or anything else won't create new industries as has always happened. "I just can't see it happening" is no argument - neither could the Luddites, and they were also wrong.
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