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RE: Capitalism has a new problem: companies without employees
- Ah ha, but what if you have a big company that is distributing it's ownership and debt to it's participants as if they were owners? Then i think you may have a solution...(aka steemit)
- The middle class never died. A. The amount of billion dollar 0 employee companies is extremely small. B. Outsourcing moved literally all middle class jobs out of america and into China and India. They have had unprecedented wage growth, and it is coming to an end. Next, the middle class will move to Africa. in 20 or 25 years, Africa will be ready to crash like China is today. Not sure about where the middle class moves next though.
I don't think it's only about companies with 0 emplyees. Many companies have shrinking numbers of employees while they are producing more and more. Some companies are growing fast and don't hire new people. The jobs that are lost here are the jobs with their competitors going bankrupt.
And yes, we can try to bring production back from China, but I think that is only possible if the production is automated.
I would have to do more research on the finer points to give you a better response, but I will say this: getting jobs back to America may be contingent on automation, but it is first contingent on a competitive cost. If automation is cheaper, then sure, jobs will come, and if it's not, then they will stay abroad. I have been arguing for a looooong time that the problem in America is nothing other then the cost of living. People want a $15 min wage (which is crazy expensive compared to Africa for the same manufacturing labor) to try and match inflation. Why bother with automation when you can get human labor for pennies on the dollar, and pay your work force a wage which puts them in the top 10% income bracket among their peers in an underdeveloped nation? The real problem in the developed west is practical inflation and the breakdown of the present monetary system. Anyway, I hope you are heavily invested in crypto!