What if we STRUCTURALLY have more people than there are jobs?

[trade4succes]

Quote from gnome:
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Quote from trade4succes:

This question is a non-question. there's nothing different between industry getting more productive, and agriculture getting more productive since 10,000 or more years ago. what will happen with more productivity> a richer nation as a whole. more jobs in the tertiary sector, especially leisure.
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If there was a place to fade this comment, you could get odds.

rephrase that please?

ps. also that comment from someone saying that "there is not a lack of jobs, it's that wages are too high" makes more sense.

 

[swtrader]

Quote from gnome:

Industry has always tried to get more "productive"... more product per man-hour of labor...

Machines to make things in great quantities at low cost.

Machines to take the place of many workers.

What is left for displaced workers to do?

And when our economy settles out after this "adjustment", we may find economic activity some 20-40% BELOW the 2007 "borrow and spend" peak.

We may find that there are not enough jobs available, regardless.

What is to be done about the permanently unemployed?

this means we will have a 'desparate shortage of workers'

 

[forextrades]

Eliminating the minimum wage laws will increase the number of employed people substantially.

However, I'm not sure how long it would take for the price of goods to adjust accordingly with the decreasing wages.

Would it happen immediately?

 

[Debaser82]

Quote from ByLoSellHi:

People have been saying the world is over populated since there were 500 million people on the earth.

There are now nearly 7 billion, and no plague in sight.

Avian flu was a dud.

Ebola? Not a big deal.

AIDs was going to wipe out half the world according to some at one time.

There is enough space in CA for the whole world population to unite and still have enough room to dance.

 

[eagle]

The idea of making robots to replace human in order to increase productivity and reduce production cost was proven to be unwise because those products can't be sold to the robots neither to those who are on unemployment benefits and therefore revenue decrease. So why making more products but unwittingly reducing sale?

Quote from gnome:

Industry has always tried to get more "productive"... more product per man-hour of labor...

Machines to make things in great quantities at low cost.

Machines to take the place of many workers.

 

[Kassz007]

Quote from ByLoSellHi:

People have been saying the world is over populated since there were 500 million people on the earth.

There are now nearly 7 billion, and no plague in sight.

Avian flu was a dud.

Ebola? Not a big deal.

AIDs was going to wipe out half the world according to some at one time.

But that is the point. EVENTUALLY, with modern warfare and modern healthcare, the population will keep growing and eventually will become too much for Earth to handle given the limited amount of space. This may not happen for hundreds or thousands of years, but eventually you would think this would be inevitable the way things are going.

Relating back to the topic of the thread, while I don't think structurally Earth has more people than jobs at the moment, the possibility is certainly there in the future.