Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
billyjoeallen
on 13/03/2014, 02:22:04 UTC
If it were really true that replacing backhoe operators with shovels would improve employment, then why wouldn't we go further and replace shovels with spoons? The fact is that employers face competition for employees in a free market just as much as job seekers face competition for jobs. Wages are bid down AND up, so what ultimately determines wages is productivity. Backhoe operators are so much more productive than manual ditch diggers that society can afford to pay the manufacturers and servicers of backhoes, manufacturers of the parts , the miners and harvesters of raw materials and the suppliers of fuel substantially more than the unskilled laborers they displace.

I'm sorry, but if you are too stupid or stubborn to upgrade your skills when technology makes them obsolete, it's your problem-not society's.