Rantings and tirades of a frustrated economist.
Cheap stupid labor with high personal debt loads: Therefore America is becoming ripe for a resurgence of the long lost manufacturing sector. These manufacturing jobs left us over the past 40 years because the dopes putting lug-nuts on Fords back then thought they were something special. They used unions and democrat politicos to demand outrageous pay and bennies... and therefore forced the industry to look elsewhere for a better deal. How might we attract them back to the US?
Just so you know, auto workers made big money because they got lucky. that's right. they got lucky. It was the law of unintended consequences in over drive. Auto worker wages went up because of cost of living raises. That clause was put in the contracts in the 1950s to prevent strikes and at a time when there was little or no inflation. The sky high inflation of the late 1970s was never foreseen. I was an employee at that time. we did not demand high wages, they came automatically. to repeat, we got lucky. Everyone else got screwed.
How might we attract them back to the US?Automation like has never been seen before. But the result is, it will be a high capital industry requiring little labor component. So the lug nut twisters won't have much luck in that environment.
Education as it is currently structured will not survive. It won't be for the primary reason that by the time a student graduates their skill set will have been supplanted by the next tech curve. We have reached the point that rate of change exceed the rate of learning.
No, no, you miss the point. These people are here now. We can either give them welfare or have them twist lug nuts. Although it might be cheaper to give welfare rather than try to employ them... The welfare idea has failed for 40 years, so we need to create a use for the useless. Any ideas? Autoworker... I lived next to the ford plant... the unions made demands until the plant died. The trucks made at that plant sold like hotcakes too. Made in Mexico now.
Current union wage for lug nut twisters is $12.59 per hour.
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