Forum Overview :: Rants :: You're missing the point.

[quote name="blackwater"]Many of the jobs of today will be gone in the future. But there will be new jobs Keynes made the same mistake in his 1930 essay <a href=http://www.econ.yale.edu/smith/econ116a/keynes1.pdf>Economic Possibilities for Our Grandchildren</a>. He pointed out that manufacturing and agriculture were experiencing huge productivity gains (true!) and concluded that by 2030 we'd only need to work 15 hours a week (false!) What he didn't see was that employment would move away from agriculture and manufacturing and to other sectors. To quote wikipedia: "In 1870, almost 50 percent of the U.S. population was employed in agriculture.[21] As of 2008, less than 2 percent of the population is directly employed in agriculture." Not sure what that was in 1930 but it's a safe bet that it wasn't 2 percent. Same with manufacturing.[/quote]