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by sgath92
1062 days ago
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> The social system we live in cannot tolerate mass unemployment It already does if you go by the labor participation rate. The traditional prescription for unemployment caused by technological innovation is to artificially decrease the employee pool by taking away both ends of the workforce (after shorting them by age). The elderly get retirement, and the young go to compulsory school. This was fine for dealing with the introduction of combustion engines, steam engines and early electricity adaptation but eventually even this was insufficient. Which is why so many young adults 18-25 are put into higher education to artificially drag out the time until they enter their chosen careers. They're not necessarily there to obtain a specific set of skills or education, as if that were the case employers would be more willing to hire talented & skilled but diploma or certification lacking applicants (that are automatically tossed out of the running by mostly automated job applicant filters). The problem is that this requires piles of money to sustain, and our leadership is already trying to crawl back retirement by upping the retirement age even as US life expectancy has been trending down for years (incl pre-COVID). Most likely: We'll see people deemed redundant by the marketplace left to "let nature run its course" and die off from poverty (via addiction, avoidable medical problems, malnutrition etc). This has been what was already dragging down life expectancy in the post 2008-crash America. |
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