Members banned from this thread: midcan5


Page 5 of 5 FirstFirst 12345
Results 61 to 65 of 65

Thread: Isn't the solution higher taxes on the rich?

  1. #61 | Top
    Join Date
    Feb 2017
    Posts
    120
    Thanks
    1
    Thanked 52 Times in 36 Posts
    Groans
    1
    Groaned 3 Times in 3 Posts

    Default

    Quote Originally Posted by Right View Post
    The transition is just starting, and I'm not inventing new industries. But two new ones that I can think off off the top of my head are craft breweries and cannabis.
    I would like to know how you think recent technology, robotics etc. has created either of these industries. The loss of mid-level jobs in data processing, information technology and recently, retail sales has been flabbergasting. To be sure, there has been a new manufacturing sector making computers, cell phones etc. but the jobs have been mostly in China -- Apple makes nothing here -- and are rapidly being automated.

    There is no doubt that the Industrial Revolution created manufacturing jobs to replace the agricultural jobs it destroyed. Some people have assumed that the Information Revolution would have a similar impact. Economists have watched the matter carefully and so far there seem to be no signs that the replacement is underway. Companies like Google or Snapchat have book values in the billions but payrolls in the dozens. Nothing like it has been seen before.

  2. #62 | Top
    Join Date
    Jan 2014
    Location
    The Blue Ridge
    Posts
    37,741
    Thanks
    21,918
    Thanked 12,581 Times in 9,703 Posts
    Groans
    4,312
    Groaned 1,312 Times in 1,210 Posts
    Blog Entries
    1

    Default

    Quote Originally Posted by Bill Fishlore View Post
    I would like to know how you think recent technology, robotics etc. has created either of these industries. The loss of mid-level jobs in data processing, information technology and recently, retail sales has been flabbergasting. To be sure, there has been a new manufacturing sector making computers, cell phones etc. but the jobs have been mostly in China -- Apple makes nothing here -- and are rapidly being automated.

    There is no doubt that the Industrial Revolution created manufacturing jobs to replace the agricultural jobs it destroyed. Some people have assumed that the Information Revolution would have a similar impact. Economists have watched the matter carefully and so far there seem to be no signs that the replacement is underway. Companies like Google or Snapchat have book values in the billions but payrolls in the dozens. Nothing like it has been seen before.
    The creation of new industries that always occur when smart people have time on their hands. Why is this time different?

  3. #63 | Top
    Join Date
    Feb 2017
    Posts
    120
    Thanks
    1
    Thanked 52 Times in 36 Posts
    Groans
    1
    Groaned 3 Times in 3 Posts

    Default

    Quote Originally Posted by Right View Post
    The creation of new industries that always occur when smart people have time on their hands. Why is this time different?
    The idea that new industries always occur when smart people have time on their hands doesn't seem true. There are always a percent of smart people in any society and some of them are always to be found in the leisure class, yet new industries are not created at an even rate. There are many years, sometimes centuries, in which smart people with time on their hands do not create new industries. They write poetry or they start wars.

    The Industrial Revolution was started by technology developed by people such as Watt and Newcomen, both of whom were arguably smart people but neither of whom had any free time on his hands.

    The technology of the current Information Revolution was created by people working for large corporations such as GE and IBM. Even the guys like Jobs and Gates, who packaged it into new products were not men of leisure.

    New industries spring from new technologies, technologies often discovered by chance. Not all new technology creates new industry, nor does the new industry inevitably create more jobs than it destroys. Human history is too complex and too subtle to be reduced to such simple generalizations. At best, it is a belief, a matter of faith, not a principle of economics.

  4. #64 | Top
    Join Date
    Jan 2014
    Location
    The Blue Ridge
    Posts
    37,741
    Thanks
    21,918
    Thanked 12,581 Times in 9,703 Posts
    Groans
    4,312
    Groaned 1,312 Times in 1,210 Posts
    Blog Entries
    1

    Default

    'It doesn't seem true.' To you. But history shows us otherwise.

  5. #65 | Top
    Join Date
    Aug 2017
    Posts
    608
    Thanks
    114
    Thanked 138 Times in 123 Posts
    Groans
    12
    Groaned 12 Times in 12 Posts

    Default

    Quote Originally Posted by Truth Detector View Post
    like most just bs.

Similar Threads

  1. how I know higher taxes would be good for the economy
    By evince in forum General Politics Forum
    Replies: 4
    Last Post: 12-12-2012, 10:00 PM
  2. Higher taxes = less revenue
    By canceled.2021.1 in forum Current Events Forum
    Replies: 1
    Last Post: 11-28-2012, 11:45 AM
  3. Raise taxes on the rich....says a rich man
    By Guns Guns Guns in forum Current Events Forum
    Replies: 4
    Last Post: 12-27-2011, 04:35 PM
  4. Americans favor HIGHER TAXES for the richest.
    By ZappasGuitar in forum Current Events Forum
    Replies: 40
    Last Post: 09-22-2011, 01:23 PM
  5. Will It Take a Second Revolution to Get The Wealthy to Pay Higher Taxes?
    By signalmankenneth in forum Current Events Forum
    Replies: 48
    Last Post: 08-08-2011, 12:26 PM

Bookmarks

Posting Rules

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •