<story><title>America’s Dazzling Tech Boom Has a Downside: Not Enough Jobs</title><url>http://www.wsj.com/articles/americas-dazzling-tech-boom-has-a-downside-not-enough-jobs-1476282355</url></story><parent_chain><item><author>baron816</author><text>For all of human history, people have had to deal with a scarcity of resources. Yet in the last few years, that has changed. Our problem is not that we can&amp;#x27;t make enough stuff for everyone to be happy, it&amp;#x27;s that we&amp;#x27;re still acting like that is the case.&lt;p&gt;The age of inflation is over because producers in nearly every industry (there are a few notable exceptions) can absorb almost infinite demand for their products. The sooner governments and central banks accept this, and the sooner we move past the notion that a &amp;quot;job&amp;quot; is not an end but a means to an end, the sooner we can end poverty, achieve high levels of growth, and overcome our fear of globalization and technology.</text></item></parent_chain><comment><author>jganetsk</author><text>Citations needed.&lt;p&gt;I don&amp;#x27;t see any fundamental change in scarcity of resources in the last few years.&lt;p&gt;Additionally... to say that nearly every industry can absorb almost infinite demand for their products is absurd. Near infinite claims need near infinite evidence. Can we produce near infinite food? Can we produce near infinite precious metals?&lt;p&gt;There are certainly some very interesting characteristics about our economy right now, but this is not the right articulation. It&amp;#x27;s more that we are stuck in a liquidity trap, and we can grow our economy without increasing demand on the labor market.</text></comment>
<story><title>America’s Dazzling Tech Boom Has a Downside: Not Enough Jobs</title><url>http://www.wsj.com/articles/americas-dazzling-tech-boom-has-a-downside-not-enough-jobs-1476282355</url></story><parent_chain><item><author>baron816</author><text>For all of human history, people have had to deal with a scarcity of resources. Yet in the last few years, that has changed. Our problem is not that we can&amp;#x27;t make enough stuff for everyone to be happy, it&amp;#x27;s that we&amp;#x27;re still acting like that is the case.&lt;p&gt;The age of inflation is over because producers in nearly every industry (there are a few notable exceptions) can absorb almost infinite demand for their products. The sooner governments and central banks accept this, and the sooner we move past the notion that a &amp;quot;job&amp;quot; is not an end but a means to an end, the sooner we can end poverty, achieve high levels of growth, and overcome our fear of globalization and technology.</text></item></parent_chain><comment><author>Alex3917</author><text>&amp;gt; Our problem is not that we can&amp;#x27;t make enough stuff for everyone to be happy, it&amp;#x27;s that we&amp;#x27;re still acting like that is the case.&lt;p&gt;The real issue is that the ruling class makes their money off capital. That&amp;#x27;s why Tiny Houses are banned in San Francisco and elsewhere. Because no one really needs more than 400 square feet of (well-designed) living space, but if people were allowed to buy houses and apartments that small then they wouldn&amp;#x27;t need to go into debt.&lt;p&gt;If the basic necessities of life become free then capital itself becomes devalued, so don&amp;#x27;t expect it to be an easy fight.</text></comment>