It\’s the way \’e tells \’em. Man\’s a comic genius:
We have been losing jobs in industry even before the credit crunch at a rate of nearly 100,000 a year, which, even given the advances in technological productivity, is unsustainable for a country whose future will remain dependent on industrial success and cannot rely on commercial and financial services alone.
We\’re losing jobs in industry *because* of the advances in technological productivity.
We can produce more with less labour….that\’s what an advance in productivity means.
Man\’s a friggin\’ genius.
His point is lack of employment surely. Increased efficiency is nice but not if you are unemployed.
And it might well tempt the great employer to generate a pseudo job for you.
Taxes on Income directly harms comparative advantage and thus employment.
“His point is lack of employment surely. Increased efficiency is nice but not if you are unemployed.”
But those formerly working in manufacturing have not, on the whole, joined the ranks of the long-term unemployed, at least not at a rate concomitant with the decline in employment in the manufacturing sector. So we return to the position that experience and Occam’s Razor tell us: if it comes out of the mouth of Michael Meacher, it’s witless tripe.