Musicmystery -> RE: Should "job killing" technologies be banned? (1/14/2012 9:39:12 AM)
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Should "job killing" technologies be banned? You mean like the automobile, which directly impacted farriers? NO ONE is being honest about this, Rich, and no one wants them to be. How about automotive robots, and Detroit jobs? There are more automobiles in the U.S. than there are drivers. What should we do in a free market? Why, let those businesses go under and let the market absorb that labor pool in other areas. If you want to argue for growth, that's the reality in a laissez-faire model. There's also the argument for letting/forcing companies to innovate, rather than rely on cost cutting and regulatory/subsidy help. Fuel efficient cars could have been designed in the 70s...instead, the Big Three invested cash in high returning money markets at the time while German, Swedish, and Japanese companies invested for the future. Even today...China will build the new economy cars...and NOT because the U.S. can't, but because the companies here want to continue propping up an outdated business model. And that's just one industry. Smart companies continually strive to make their own product obsolete, staying ahead of the business curve. Dinosaurs continue statically, complaining about the very conditions that are sparking exciting new start-ups. Google grew rapidly when the dot.com market crashed. Why? Better business model, one based on where things were going, not were they had been. And they created far more jobs because of it. Many other companies have done the same, starting in depressions, when capital goods were cheaper and competition falling away. People are STILL whining about NAFTA, which created a HUGE net surplus of jobs, and provided job retraining. The only waste here was, honestly, the job retraining, which FAR outweighed the income those jobs provided (and I'm OK with that, just saying)--for example, saving $20,000/yr. jobs with $145,000 average outlay. [ETA--local example...Smith Corona went to Mexico, and took those jobs with them. Now....if they had stayed, would they still be making typewriters at pre-computer boom level? This is a market change, not a policy snafu.] People do not like change. But healthy economies...and healthy lives...are about growth and change. Static is stagnation. Legislating stagnation, whether through banning new technology or restriction imports/exports, is just economic suicide playing to the victim/complaining atmosphere/mood of the people/climate in this country. Help people. Retrain them. Pay for educational benefits. Give them a hand up. That's OK with me. But to try to "help" them by restricting the economy is ridiculously counter-productive, whatever the restriction du jour, without offsetting net benefits (i.e., safety/environmental regulations to balance negative market externalities).
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