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PETER SCHIFF
Friday, November 6, 2009
Peter Schiff John Stossel on The Glenn Beck Show with Judge Napolitano Nov 06 2009
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I've lived in goverment housing.This is not god folks.
ReplyDeleteInteresting example they made with the Chinese employer getting all those people to dig a damn with spades rather than a bulldozer, and for the sake of providing jobs.
ReplyDeleteIf employment was really dependant on inefficiency then the western world would have rendered itself 95% unemployed decades ago, as a consequence of advanced mechanisation. Obviously it does not work like that. All that happens with technological progress is that society gets richer, and the productive economy migrates more towards luxuries and away from basic necessities. (and more spare time is a luxury "product" too).
So, other things being equal, things just get cheaper, and people spend their money on 'other' items such as holidays, cars, nicer homes and ice cream etc. And again, the jobs just transfer to support the supply of those 'other' things.
We should always embrace improved efficiencies. To do otherwise is just stupidity.