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 Originally Posted by wufwugy
A good run (bubble) has disguised the longterm losing play
This started long before Bush, and before Clinton even. The economy has appeared healthy for most of the last couple decades because we've spent most of it in bubbles. Tech crashed, and as we went back to normal, unemployment was skyrocketing, but then we bubbled housing in response, yet that crashed, Completely agree. Government tries to prop up the economy but it fails and the process of merely going back to normal pricing has shown that the economy is structurally high unemployment The question is why. The answer is because people aren't providing enough jobs. And why is that? Because government hinders the ability of people to run a profitable business. The more profitable an industry is the more jobs it can provide
As to the tomato thing, for the most part, increased productivity means decreased jobs. This can be mitigated if there were laws to determine the increase in productivity to be shared. The top earners of the last three decades have made more money than the entire history of the economy combined. The problem is that insane increase in productivity and profits is not being shared with the workers. Ironically, everybody tries to teach their kids the importance of sharing, but when it comes to modern royalty, sharing is just "punishing success"
If profits are not being shared with workers, start your own business and pay the workers twice as much as the industry standard to attract the best ones. You'll have a huge competitive advantage.
A lot of the reason workers aren't paid very well is because the supply of jobs is low and the demand is high. Most people are willing to take a low salary because that's their only option. Taxes are a huge reason why job supply is so low.
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