America's Economic Woes: Why Jobs Are Scarce, Wages Low and Government Can't Help
Americans keep hoping for a robust recovery — one that delivers better-paying jobs and decent returns on retirement savings. Changes in technology and the economy may require that never happens, and government efforts to improve conditions often multiply the misery.
In 1908, Henry Ford had a great idea — the Model T — and a novel understanding of mass production, but needed huge amounts of capital to build factories, establish dealers to sell and service mass-produced cars and maintain a large corps of managers and assembly workers.
His success inspired competitors and whole new industries making everything from agricultural implements to zippers. For three generations, those created enormous demand for capital and jobs for millions in manufacturing and supporting services.
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3 comments:
More retail,service and tourism jobs not going to do it.There has to be invention but it's to costly due to government bureaucracy and rich people squashing ideas they can't profit off of.
We wont survive on the current service industry...we need to build and build big...I really think a mission to Mars would create an environment for job creation
Do you two understand how a post-modern capitalist economy works? Service jobs are EXACTLY where the value lies, and it will be like this for a VERY long time.
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