WhipperSnapper
Lifer
- Oct 30, 2004
- 11,442
- 32
- 91
LOL. What do you think will happen to the 99 jobs that machine replaced?
Be careful to distinguish the difference between shipping jobs overseas and increased productive efficiency at home through the use of improved technology.
When jobs are shipped overseas it contributes to the trade deficit and much of the cost savings goes into the pockets of the business owners. Consumers might save money and purchase other goods and services, but if those goods and services are produced overseas that money will merely create more jobs overseas.
In contrast, a technologically-driven productivity increase that is used domestically would not produce a trade deficit and most of the cost savings would go to consumers who would then use the money they are saving to purchase other goods and services, resulting in new jobs for the production of those goods and services, replacing the lost jobs.