Quote:
Originally Posted by Jason14h
We need to figure out how to get back to people being entreprenuers and creating new industries to replace the jobs being lost by automation.
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We have all sorts of innovation and new industries. The problem is they require very little labour. Look at Silicon Valley. You have multi-billion-dollar companies with fewer than 50 employees. Google's parent company, Alphabet, has a market cap of $600 billion and it employs only 70,000 people. That's a fraction of how many people Ford, IBM, and GE employed at their peak.
0.5% of American workers are employed in industries that have emerged since 2000.