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by notahacker
4006 days ago
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A world without work was a pretty common vision in the 1960s. And the 1860s But humanity has a remarkable capacity to invent new outlets to fill our waking hours as we redeploy resources used to make stuff to make other stuff or sell stuff. We didn't have (or foresee!) social media managers or video game designers in the 1960s. And software doesn't just make our production efforts scale, it makes our consumption scale. You can fit far more lifestyle apps on your phone than chairs around your table, and a couple of decades back few people would have foreseen mobile phone apps as a category of product that needed people to make, still less an industry reportedly topping up the paycheques of a million Europeans. I'm not seeing the developed world's desire for more stuff reach satiation point, and if anything desire to subsidise unemployment is trending in the opposite direction. |
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https://research.stlouisfed.org/fred2/series/LNS11300001
For women, the peak was in 2000:
https://research.stlouisfed.org/fred2/series/USALFPWNA
Wages for men have been in decline since 1973, which demonstrates one of the obvious ways people deal with declining opportunities: lower wages.
In the 1800s Western nations conquered the world, and were thus able to export their unemployment to other countries, thus creating what we now call The Third World. As late as 1820, India was still producing more steel than Europe, but all such industries were eventually closed in India and moved to Europe, leaving India in a bad situation from which it is yet to fully recover.
It's unlikely that Western nations will have an easy time exporting their unemployment in the 2020s or 2030s. Among other things, they lack the military power that is necessary to do so.