It’s Not China – It’s Efficiency That Is Killing Our Jobs

Dyske Suematsu claims efficiency that is the real reason that jobs are not coming back quickly after the Great Recession. Unfortunately, I think this is more right than we want to believe:

When someone owns a means of production that is more efficient, it can eliminate a large number of jobs, and he stands to profit handsomely from the money he saves. In other words, it’s not so much that American jobs are going overseas; those who own efficient means of production are now pocketing the money that they used to spend on hiring people.

The luddites retaliated when machines took their jobs, but eventually they, or their family members, could move to other occupations and replace lost income. What happens when there is very little work left the machines can’t do? So far it’s not looking like the Jetsons…

Leave a Comment