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View Diary: An Economy cannot be based on CONSUMPTION (285 comments)

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  •  No, there has been structural unemployment since (0+ / 0-)

    new technololgies started pushing out old ones.  It's still happening today.  Old fashioned incandescent light bulbs are on the way out, pushed by lower energy and better environmental types.  Most of the people who used to make light bulbs in the USA have seen all of that production move elsewhere as manufacturers push for low wages.  Those folks have an element of structural unemployment.

    When was the last time you used a floppy disk?  A CRT monitor?  Hard drives and the people who make them are on the way out, as we now have whole computers that use the cloud and off-site digital storage, and only have flash membor on board. When was the last time you saw a hard drive on a tablet computer.  Granted, many of these jobs are displacing workers in China, Malaysia, India, Korea, etc., but the reality is that time and technology march on, and create structural unemployment in its wake, whether you are willing to admit or not.  Out.

    Republicans are like alligators. All mouth and no ears.

    by Ohiodem1 on Thu Sep 29, 2011 at 07:09:48 PM PDT

    [ Parent ]

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