Karen De Coster on The Mother of All Bubble Businesses.
To argue for the other side: "Conventional wisdom" is that savings is good, but if growth is only in service jobs, then isn't consumption necessary so that everyone has a living?
Is a certain amount of socioeconomic levelling unavoidable in a postindustrial economy?
But if production is the base of the economy, upon which the service sector is dependent, then the base needs to be shored up and reinvigorated, not moved overseas.
But even if those jobs could be brought back, is it possible that a limited supply of cheap energy will require that it be replaced by human energy in all forms of production?
Just some thoughts at 12 in the morning.
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