[jacques_chester]

Nitpick: labour isn't a homogenous, fungible good.

People who are good at trades are not 1-to-1 exchangeable with people who are good at STEM subjects.

[kerno]

No, probably not 1-to-1.

However, before the industrial revolution we were all toiling in fields, so I think perhaps labour is more fungible that you give it credit.

[jacques_chester]

Well now we sail off into matters of comparative advantage, division of labour / gains from trade and so on.

But the general point that labour and capital are highly heterogenous still stands. You can't pluck a boiler fitter out of the Pilbara, drop him at a desk in Perth, and expect to see anything useful for your web business any time soon. And vice versa.

[kerno]

I think we agree with each other.

I wasn't trying to claim that we can immediately shift these resources, but that this shift won't happen en masse until services has a bigger profile and more to offer than mining.

[jacques_chester]

Hostile agreement is a common thing hereabouts.

[kerno]

When Startup Aus have a meetup we should both go, so I can agree with you personally ;)