They left out a lot of details. See, productivity has increased, but wages haven't, and neither have prices gone down. This has happened because of monopolization and consolidation, which have led to little to no competition. Productivity is good when there's plenty of competition. It's not good when there are monopolies.
Prices absolutely have gone done, we just have a central bank to ensure they never go down in real terms. The only sectors where prices haven’t gone down in real terms or just been replaced by high quality products is in housing, healthcare, and education. I wonder what the common denominator is?? Maybe it’s because they’re the most hyper regulated or subsidized industries in America. There is no monopolization or restriction on production in a free market, only when a bureaucrat gives a company the monopoly privilege. And the economy is still recovering from the decrease in productivity that the government deliberatively caused during the pandemic.
@usernameryan5982 That's wrong. Most products in the United States are made by one manufacturer or a small group of manufacturers, like microwaves, and any brand is usually a subsidiary of a larger corporation. These are just the simple facts. Most shareholders are involved in multiple industries and often have board members to ensure prices are set where they want them, so they don't compete with each other. We have an oligopoly system in the United States.
When you take a narrow perspective, you see only what that narrow focus shows. People that loose jobs can hardly be called wealthier, can they? Corporations get wealthier and the GDP increases when production gets more efficient, but that does not mean that the unemployed get wealthier! There is a big difference in economics on macrolevel and on a personal level. How do you think people without work and no money will buy all the time saving apliances? It is more likely so, that they will spend more time on ”just taking care of daily life”… And those with money have all the modetn comforts and hence no need to employ anyone to take care of ”daily life”. Oh wait a minute; the have the money to pay someone to work their machines, so they can enjoy more ”free time”. Minimum wages is a drop in the ocean for for those who are now wealthier…
The missing variable is wealth-inequality. The average GDP is misleading because it's skewed so much by those at the upper 1% or so. For a good example, consider the "wealthiest country in Europe": Ireland. Their GDP is astronomical, but regular wage-earners aren't seeing that. In fact, that high GDP hurts them because it's driving up housing costs in the places they need to live to get "good jobs".
Politicians do create jobs but when they do, they’re usually seat-filling drains on productivity: Oregon’s gas pump attendants, TSA agents, tax services, just for example.
Obviously, most people are not part of the "we" in this case. We (the wealthy) get wealthier by shedding jobs. The unemployed and laid-off workers are not part of this "we get wealthier" scheme. As long as the GDP rises, right?
Hi I can't remember the last time I saw any item in my home or in my possession that was made in the U.S.A. 🧐 Also I found it darkly humerus that the video had images depicting a factory manufacturing bicycles. To the best of my knowledge, every bicycle you see on the streets today was built somewhere in Asia.🤨 Unless it's been pulled out of mothballs from collecting dust in some garage For the last 20 years or so. Also I have to wonder how much of the increase in productivity can be directly attributed to automation??🤔
how was the output measured? in dollars or in actual quantities? because if it was measured in dollars I have to ask if they were adjusted for inflation. If they weren't adjusted for inflation your graphs mean nothing
Higher pay, more free time! I wonder if the statistics holds if the comparison is made from 2010s to now than 1980s or 1940s or even early 1900s to now.
"Unrestrained by the financial system, the resources of modern production would be sufficient to provide for the material needs of the whole population of the world at the expense of a small and decreasing amount of human labour." (C.H. Douglas, The monopoly of credit, 1931) Indeed wages cannot keep up with prices, the solution lies in a complementary to working source of income by distributing the extra unearned benefit without taxation, imposed conditions or debt.
It’s Bs to say automation makes you wealthier. It makes businesses wealthier sure but wages have stagnated while assets rose the last fifty years. It’s also about how the U.S. abandoned gold and went onto pure fiat which lets them printing infinitely
We are far, far from the material resource limitations of the planet let alone what could be done with them with further technology. But even if we ever got there, Earth is only a speck of dust in the cosmos. The cosmos might also be finite, but countless people will have ever better lives before we hit that limit.
@@christiancampbell466 Yeah, but according to this, we're just supposed to be slaves and consume ever greater amounts of crap until we end up with a real-life version of Wall-E.
@@christiancampbell466 Energy use, what matter is being used for what, and ability to recycle wastes are the basics. Then, there's if you care about what species go extinct. A lot of people would argue we're using energy at levels that aren't sustainable for many more generations, and we make too much waste/pollution. Answers for energy include '51 years of oil' at current usage, '100 years of uranium, etc. We drive species extinct at a high rate.
When you said that America is rich, whom did you mean? Politicians and owners and CEOs of large corporations or regular people. The latter have become poorer.
In a global economy with no, or at least little, protectionism, things will be manufactured wherever the costs are lowest. Even services that can be off-shored like computer coding, some engineering, customer service, some medical services, etc. will be off-shored to the country with the educated workforce at the lowest cost. Automation also takes a toll on jobs a robot can do. A period of 'dog eat dog' neo-liberal capitalism with no considerations but profit is coming to the U.S.
Not a well rounded report. If we are getting more efficient which brings down prices, Why are cars, cell phones, houses, car insurance are more expensive? Maybe you forgot to mention that only 1 or 2 percent are becoming richer; the rest are struggling. You forgot to mention that Capitalism is all about maximizing profits. And the best way for the super rich to maximize profit is to automate. The only reason the super rich haven't automated everything yet is that not all labor skills could be automated. However, with AI, the super rich should be able to automate everything soon.
@@mistermood4164 Is that an accurate account, or businesses are just cutting prices while many are still not buying? Besides, your argument was technology has made us more efficient; therefore making USA more rich. If we are that rich, how come car companies are struggling to sell their expensive cars?
@@galileodeleon58 because they charging more than the value they provide. you can't charge 50k for a product that only has 30k of value to the end consumer. Cars are appliance only bought on a as needed basis. cars last alot longer today than in the past hence there are less and less consumers in the new car market.
@@mistermood4164 Then the average people are not rich. Only the super rich along with their corporate greed are able to benefit from technology, not the average worker.
@@galileodeleon58 car companies miscalculated how many people are willing to high prices for their new cars, nothing to do with being rich or poor. if the value was there people wouldn’t mind.
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They left out a lot of details. See, productivity has increased, but wages haven't, and neither have prices gone down. This has happened because of monopolization and consolidation, which have led to little to no competition. Productivity is good when there's plenty of competition. It's not good when there are monopolies.
Government creates monopolies through barriers to entry like seas of regulations, minimum wage laws, and intellectual property laws.
True , but that's a different thing that needs to be managed differently.
Prices absolutely have gone done, we just have a central bank to ensure they never go down in real terms. The only sectors where prices haven’t gone down in real terms or just been replaced by high quality products is in housing, healthcare, and education. I wonder what the common denominator is?? Maybe it’s because they’re the most hyper regulated or subsidized industries in America. There is no monopolization or restriction on production in a free market, only when a bureaucrat gives a company the monopoly privilege. And the economy is still recovering from the decrease in productivity that the government deliberatively caused during the pandemic.
@usernameryan5982 That's wrong. Most products in the United States are made by one manufacturer or a small group of manufacturers, like microwaves, and any brand is usually a subsidiary of a larger corporation. These are just the simple facts. Most shareholders are involved in multiple industries and often have board members to ensure prices are set where they want them, so they don't compete with each other. We have an oligopoly system in the United States.
Spot on.
When you take a narrow perspective, you see only what that narrow focus shows. People that loose jobs can hardly be called wealthier, can they? Corporations get wealthier and the GDP increases when production gets more efficient, but that does not mean that the unemployed get wealthier! There is a big difference in economics on macrolevel and on a personal level. How do you think people without work and no money will buy all the time saving apliances? It is more likely so, that they will spend more time on ”just taking care of daily life”… And those with money have all the modetn comforts and hence no need to employ anyone to take care of ”daily life”. Oh wait a minute; the have the money to pay someone to work their machines, so they can enjoy more ”free time”. Minimum wages is a drop in the ocean for for those who are now wealthier…
The Douglas Social Credit way has the best solution I've encountered so far
You said more free time, but we have less free time than peasant workers in the dark ages.
The missing variable is wealth-inequality. The average GDP is misleading because it's skewed so much by those at the upper 1% or so. For a good example, consider the "wealthiest country in Europe": Ireland. Their GDP is astronomical, but regular wage-earners aren't seeing that. In fact, that high GDP hurts them because it's driving up housing costs in the places they need to live to get "good jobs".
Politicians do create jobs but when they do, they’re usually seat-filling drains on productivity: Oregon’s gas pump attendants, TSA agents, tax services, just for example.
So if we are getting richer, why are people having a harder time affording things like housing?
nimbys and zoning laws that don't allow for more dense housing to be built.
Obviously, most people are not part of the "we" in this case. We (the wealthy) get wealthier by shedding jobs. The unemployed and laid-off workers are not part of this "we get wealthier" scheme. As long as the GDP rises, right?
So, where are the products with a label that says: MADE IN USA ?
Hi I can't remember the last time I saw any item in my home or in my possession that was made in the U.S.A. 🧐 Also I found it darkly humerus that the video had images depicting a factory manufacturing bicycles. To the best of my knowledge, every bicycle you see on the streets today was built somewhere in Asia.🤨 Unless it's been pulled out of mothballs from collecting dust in some garage
For the last 20 years or so. Also I have to wonder how much of the increase in productivity can be directly attributed to automation??🤔
most of your food is produced here, aswell as most cars
how was the output measured? in dollars or in actual quantities?
because if it was measured in dollars I have to ask if they were adjusted for inflation.
If they weren't adjusted for inflation your graphs mean nothing
So Andrew Yang was right. It’s automation stupid.
Higher pay, more free time! I wonder if the statistics holds if the comparison is made from 2010s to now than 1980s or 1940s or even early 1900s to now.
"Unrestrained by the financial system, the resources of modern production would be sufficient to provide for the material needs of the whole population of the world at the expense of a small and decreasing amount of human labour."
(C.H. Douglas, The monopoly of credit, 1931)
Indeed wages cannot keep up with prices, the solution lies in a complementary to working source of income by distributing the extra unearned benefit without taxation, imposed conditions or debt.
Good video
It’s Bs to say automation makes you wealthier. It makes businesses wealthier sure but wages have stagnated while assets rose the last fifty years. It’s also about how the U.S. abandoned gold and went onto pure fiat which lets them printing infinitely
Yes: I do have a degree and won't seek help! 😂
We produce more stuff than any time in history. Period. There are more factories in the US than at ever.
We’re just gonna completely ignore the multiplier effect huh
Even if we ignore the fact that jobs are actually being eliminated, we live on a finite planet and can't increase productivity forever.
We are far, far from the material resource limitations of the planet let alone what could be done with them with further technology. But even if we ever got there, Earth is only a speck of dust in the cosmos. The cosmos might also be finite, but countless people will have ever better lives before we hit that limit.
@@christiancampbell466 Yeah, but according to this, we're just supposed to be slaves and consume ever greater amounts of crap until we end up with a real-life version of Wall-E.
@@christiancampbell466 Energy use, what matter is being used for what, and ability to recycle wastes are the basics. Then, there's if you care about what species go extinct.
A lot of people would argue we're using energy at levels that aren't sustainable for many more generations, and we make too much waste/pollution.
Answers for energy include '51 years of oil' at current usage, '100 years of uranium, etc.
We drive species extinct at a high rate.
I'd take that as a menace if we had reached a level 1 Kardashev civilization at the present we are something like 0.5
Well said. The concept of "endless growth" for $ is made up by humans. In nature, it's called cancer etc.
we are pretty sure they have't gotten th internet 🙂
Business expenses are tax deductible, so the rate of taxes has no effect on jobs, making a slider called taxes that make jobs go up is a flagrant lie.
When you said that America is rich, whom did you mean? Politicians and owners and CEOs of large corporations or regular people. The latter have become poorer.
In a global economy with no, or at least little, protectionism, things will be manufactured wherever the costs are lowest. Even services that can be off-shored like computer coding, some engineering, customer service, some medical services, etc. will be off-shored to the country with the educated workforce at the lowest cost. Automation also takes a toll on jobs a robot can do. A period of 'dog eat dog' neo-liberal capitalism with no considerations but profit is coming to the U.S.
Is this David Hayter?
Not a well rounded report. If we are getting more efficient which brings down prices, Why are cars, cell phones, houses, car insurance are more expensive? Maybe you forgot to mention that only 1 or 2 percent are becoming richer; the rest are struggling. You forgot to mention that Capitalism is all about maximizing profits. And the best way for the super rich to maximize profit is to automate. The only reason the super rich haven't automated everything yet is that not all labor skills could be automated. However, with AI, the super rich should be able to automate everything soon.
with the exception of housing, and higher education. most of goods have gotten cheaper when you take inflation into account.
@@mistermood4164 Is that an accurate account, or businesses are just cutting prices while many are still not buying? Besides, your argument was technology has made us more efficient; therefore making USA more rich. If we are that rich, how come car companies are struggling to sell their expensive cars?
@@galileodeleon58 because they charging more than the value they provide. you can't charge 50k for a product that only has 30k of value to the end consumer. Cars are appliance only bought on a as needed basis. cars last alot longer today than in the past hence there are less and less consumers in the new car market.
@@mistermood4164 Then the average people are not rich. Only the super rich along with their corporate greed are able to benefit from technology, not the average worker.
@@galileodeleon58 car companies miscalculated how many people are willing to high prices for their new cars, nothing to do with being rich or poor. if the value was there people wouldn’t mind.
Automation!
This is Fascist Propaganda !