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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Don Lloyd who wrote (12387)1/1/2002 3:29:27 PM
From: Ilaine  Read Replies (1) of 74559
 
I agree with you that GDP is not the best way to measure "the economy" but it does tell us something.

As for unemployment, you're only partially correct. Improvements in technology causes fewer people to be needed for the same, or even a greater, level in production. Some people can adapt easily, some can't. Some Cobol programmers can learn C++, some can't. Some textile mill workers will find jobs working at Walmart, some won't.

I used to work in printing - over the years I saw letter setters become redundant, linotype operators become redundant, engravers become redundant, color separators become redundant, layout and pasteup artists become redundant, and I got out before my own craft became redundant; good thing, too.
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