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Cresent City Kid

(1,621 posts)

21. The purpose of capitalism is to create capital for capitalists

Sat Jul 23, 2016, 08:34 AM

Jul 2016

Job creation is a side effect. In the early 20th century the business model was to produce millions of things for the cost of a penny, sold to millions of people for a nickel, employing thousands was necessary to achieve this. Now machines do most of the work in the factories that remain.

There are a lot of holdovers from the Victorian age, the structure of the education system, morality, income inequality, etc. Mass employment was doomed, only needing technological efficiency to replace it.

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5 of America's fastest growing jobs pay less than $25,000 [View all] brentspeak Jul 2016 OP

Fifty years ago we were speaking of the "service economy." JayhawkSD Jul 2016 #1

Well.... Adrahil Jul 2016 #2

Just to get by now ... lpbk2713 Jul 2016 #3

Wrong.... Wounded Bear Jul 2016 #4

Well, to be accurate ... JustABozoOnThisBus Jul 2016 #40

Well surely that means the median income is dropping like a rock! whatthehey Jul 2016 #5

Did you expect anyone to take you seriously? brentspeak Jul 2016 #6

I expect people to take data more seriously than opinion pieces whatthehey Jul 2016 #7

You mean this kind of data? brentspeak Jul 2016 #8

That's only a bad thing awoke_in_2003 Jul 2016 #9

Post removed Post removed Jul 2016 #16

The 1950s 1939 Jul 2016 #19

please tell me you forgot the sarcasm emote. Either that, or I strongly suggest merrily Jul 2016 #28

Let's get it straight about productivity and higher wages. JayhawkSD Jul 2016 #25

Thanks for links. inanna Jul 2016 #17

I think you wanted this graph Angel Martin Jul 2016 #46

None of those require a college education either AwakeAtLast Jul 2016 #10

Don't get me started on this college kick JayhawkSD Jul 2016 #11

There are still trades jobs madville Jul 2016 #12

true, but there aren't nearly enough of those type of jobs; that's the whole problem. TheFrenchRazor Jul 2016 #15

It's surprisingly tough to find employable and qualified people madville Jul 2016 #27

The IBEW will take you as an apprentice, tomorrow, if you show up Recursion Jul 2016 #44

There is still a lot of nepotism in the trades, and entry level is not really entry level anymore davidn3600 Jul 2016 #38

Excellent post, thank you! inanna Jul 2016 #18

K all what you wrote still doesn't take away from the fact that this is no longe 1962... uponit7771 Jul 2016 #20

So, what? You want to start at the top? JayhawkSD Jul 2016 #23

Depends on your definition of a living wage madville Jul 2016 #33

Used to be rjsquirrel Jul 2016 #31

Understood. mahatmakanejeeves Jul 2016 #34

Let's not be too hasty.... mahatmakanejeeves Jul 2016 #32

None of those jobs are trade jobs either AwakeAtLast Jul 2016 #36

I would say they don't really care one way or another The2ndWheel Jul 2016 #39

K&R Photographer Jul 2016 #13

nothing to see here folks, move along... nt TheFrenchRazor Jul 2016 #14

The purpose of capitalism is to create capital for capitalists Cresent City Kid Jul 2016 #21

Side effect? JayhawkSD Jul 2016 #24

He did Cresent City Kid Jul 2016 #30

I was shocked to find that KatyaR Jul 2016 #22

By whom? NT mahatmakanejeeves Jul 2016 #29

A $15 minimum wage edhopper Jul 2016 #26

And now, from those jumpy-smiley folks at the BLS, mahatmakanejeeves Jul 2016 #35

Another way to say is : 1/2 of the jobs created in the hottest job categories pay < $18 hr. gd770226 Jul 2016 #41

This is why Trump appeals to a lot of people. Calista241 Jul 2016 #37

Yep! vintx Jul 2016 #42

Umm.. that's roughly the median individual income, so, yeah Recursion Jul 2016 #43

5 of America's fastest growing jobs pay more than $89,000 per year mahatmakanejeeves Jul 2016 #45