[QUOTE=Sam Stone]
Which brings up another point about liberals - they don’t have a frickin’ clue about economics.
If automation is replacing everyone, and outsourcing is replacing everyone else, perhaps you could explain why the unemployment rate is 4.8%.
[/QUOTE]
I expected a bit more from you, Sam, especially in a post where you chide liberals for knowing nothing about economics.
First, i agree in principle that automation and outsourcing is not, on its face, a bad thing. Hell, even Karl Marx was a fan of labor-saving technology, arguing that it would eventually free up workers for more satisfying activities and reduce the amount of time people have to spend at labor (ah, the naivete of 19th-century political economy). And i have no problem with people in places like China or India or Mexico getting jobs, as long as the work they do is remunerated at a rate that allows them to live, and is done in humane conditions (ah, the naivete of 21st-century optimists).
But your jab about the unemployment rate is so simplistic that someone who had just taken his first class in Macro101 would be ashamed of it. As suggested by 11811, it completely elides all the people who are (conveniently) no longer categorized as unemployed because they’ve given up looking for work out of frustration or despair. It also doesn’t take account of chronic underemployment, people who can only get 10 or 20 hours a week, or who have to cobble together full-time pay from 4 different part-time jobs that offer no benefits and that require 4 hours of travel a day.
And, connected with this, you also completely ignore the fact that many of the currently employed are, unlike their counterparts of 40 or 50 years ago, working jobs with little or no possibility of advancement, poor wages (much lower in real terms that workers of the late 1960s), and zero job security.
Now, you might argue that this is merely an unfortunate side-effect of the shift to a global economy, and that in the end everyone will benefit from a liberalized system of trade and capital flows. Fair enough. Even if i disagree with that assessment, it’s not an unreasonable argument to make. But to simply ignore these very real problems of employment and economic hardship being faced by millions of Americans and Canadians as a result of automation and outsourcing, and simply point to the official unemployment figure, is so simplistic as to verge upon outright dishonesty, or a very poor understanding of economics.