Hi Everybody, A friend of mine had a professor in business school state that we have to find a way to distribute the output of the economy to those who don't work. Heresy, I know.
He writes: > It had to do with our distributing the output of the economy to the > providers of land, labor, and capital. Since for the majority of > people this means that they get their share based on the labor they > bring to the table, it gets to be a problem when with mechanization > and increased effiency you can produce everything society needs > without the need for that much labor, leaving lots of people > unemployed and not getting any share of the total output. The > question is, "How do you take care of these people?" You need to find > ways to pay people for not working -- and we have already found many > ways to do this. Things like sebatical leaves, paid vacations, paid > sick leave, early retirement, etc. etc. are all ways to pay people for > not working. The prof was one of my economics professors at LSU when > I was working on my MBA. I can't think of his name now, but I'll see > if I can come up with it. I doubt it was an original concept with > him, but it might have been. I have never heard of anyone else > raising this when talking about the unemployment problem, but pols are > always talking about what we can do to get back to full employment. > But at some point we just won't be able to no matter what we do > because a small fraction of the labor force will be able to produce > everything that the whole world's population could possibly need. Interesting problem. -- Regards, Pete http://pete-theisen.com/ http://elect-pete-theisen.com/ _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[email protected] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
