making America great in a low growth world

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    Aug 06, 2016 7:30 PM GMT
    interesting read (long) from the NY Times. Basically saying the 21st century is screwed:
    http://www.nytimes.com/2016/08/07/upshot/were-in-a-low-growth-world-how-did-we-get-here.html?hp&action=click&pgtype=Homepage&clickSource=story-heading&module=first-column-region&region=top-news&WT.nav=top-news&_r=0
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    Aug 06, 2016 9:03 PM GMT
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    Aug 06, 2016 10:30 PM GMT
    Indeed interesting. But I also wonder if we're reaching a "saturation point" in terms of goods & services, as well as technology. At least in the case of the developed nations.

    Technology keeps improving, of course, but perhaps there's a diminishing return regarding much of our resulting productivity. And in the loss of jobs, which also fuels an economy. When robots are building our cars, what happens to the automobile work force?

    I remember when I moved into Army Field Grade Officers' quarters at Fort Sam Houston, in San Antonio, Texas. Opposite the kitchen was a maid's suite, with a bedroom and its own bath. In the 1930s, when this house was built, the more senior officers like me had a live-in maid.

    Well, in the late 1980s we didn't have a maid, nor need one. A dishwasher, vacuum cleaner, washer & clothes dryer, and countless other modern conveniences meant we really didn't need any. But that meant no job for a maid. Not for me nor for any of my fellow officers, who used those rooms for other purposes, like guests or as offices.

    How does the loss of all those jobs impact the economy? I dunno. And how much do incremental technology improvements today really impact our lives, to make us more productive than we already were? Difficult to measure.

    And so I see a lot of unknown variables here.
  • tazzari

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    Aug 06, 2016 10:35 PM GMT
    Can consumption, like the universe, continue to expand forever? Or would Americans in particular, as the world's greatest consumers, do better with a degree greater simplicity? Perhaps that would help as well with the frantic 24/7 lifestyle some seem to need to live, just to keep up. I suspect that some greater degree of the tax burden taken up by the super-wealthy would help as well.
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    Aug 07, 2016 4:10 AM GMT
    Where Did All the Growth Go?
    Come on people, one huge way to 'grow' is to cap the wages of the slave laborer, decade after decade icon_idea.gif

    This year’s Fortune 500 marks the 62nd running of the list. In total, Fortune 500 companies represent two-thirds of the U.S. GDP with $12 trillion in revenues, $840 billion in profits, $17 trillion in market value, and employ 27.9 million people worldwide. http://beta.fortune.com/fortune500


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    Aug 07, 2016 2:35 PM GMT
    ELNathB saidWhere Did All the Growth Go? Come on people, one huge way to 'grow' is to cap the wages of the slave laborer, decade after decade
    some nations are not even thinking consumers. Citizens eat shit and die.
    ?m=02&d=20100807&t=2&i=174149978&w=644&f
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    Aug 07, 2016 4:53 PM GMT
    pellaz saidinteresting read (long) from the NY Times. Basically saying the 21st century is screwed:
    http://www.nytimes.com/2016/08/07/upshot/were-in-a-low-growth-world-how-did-we-get-here.html?hp&action=click&pgtype=Homepage&clickSource=story-heading&module=first-column-region®ion=top-news&WT.nav=top-news&_r=0


    Expanding markets into areas with millions of have-nots created a huge supply of ultra cheap labor. The effect is deflationary. It's not rocket science. It's also not necessarily bad. These people formerly had nothing and now they have something.

    There can be growth in markets that know how to innovate. That's more likely to happen with a pro-growth, pro-business government. We don't have that right now.