monometalic vs. multimetalic/nonmetalic currency.

[Jon_Irenicus]

Basically, is ‘Entrepreneur’ or ‘Inventor’ of ‘Consultant’ - jobs with no direct production - going to become the majority of job titles in the future due to technology?

I don’t know about “entrepreneur”, as that is one of the most vital roles in the market economy, but sure, perhaps most future employment will be service sector or highly skilled manufacturing jobs.

[Bostwick]

@Igor83185

@JonBostwick

He was right? So there are fewer jobs today then there was back then? Ha!

I didn’t say fewer jobs. I said fewer jobs that produce goods directly - Marx was dealing with an economy where the vast majority of production was done by hand. Automation eleminates individual production with a more efficient system. There are MUCH fewer agriculture and factory jobs per capita than back in Marx’s time. What happens when technological efficiency outpaces job growth?

Basically, is ‘Entrepreneur’ or ‘Inventor’ of ‘Consultant’ - jobs with no direct production - going to become the majority of job titles in the future due to technology?

You are getting ahead of yourself.

Marx feared that increases in automation would cause an increase in unemployment. Well, today we have that increase in automation and it hasn’t caused an increase in unemployment. So Marx’s fear was unfounded. And you are just as wrong as he was.

@Igor83185

What happens when technological efficiency outpaces job growth?

Labor saving can not outpace job growth. The demand for labor is unlimited. What happens when labor savings comes into existence is that production increase. The only reason that labor saving technology would cause a reduction in jobs would be if production was static, but production is not static; there is no reason to believe it is static. Production today is vastly higher than it was a hundred years ago.

@Igor83185

Basically, is ‘Entrepreneur’ or ‘Inventor’ of ‘Consultant’ - jobs with no direct production - going to become the majority of job titles in the future due to technology?

You viewing two separate phenomenons and believing they are the same thing. Most factory jobs that have left the US have not disappeared, they have moved over seas.

Americans are being employed increasing in “non-productive” jobs because America is able to buy imports by exporting nothing more than dollars. When the petro-dollar system fails Americans will be forced to produce for themselves and will return to the factories.