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Technology Stocks : Applied Materials No-Politics Thread (AMAT)
AMAT 225.18-1.5%3:59 PM EST
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To: Ian@SI who wrote (7532)10/15/2003 1:43:46 PM
From: Sampat Saraf  Read Replies (1) of 25522
 
"Agrarian to Industrial to Electrical to Electronic.
With each revolution, displaced workers have probably suffered."

However, the transition from Agriculture to Industrial did not cost much to US as US still (even now) makes enough agricutural produce to support its consumption and some more. It was mainly productivity driven in that the number of people needed for doing the same amount of agricultural production reduced.

This is quite in contrast to transition from Industrial to Electrical to Electronic where US looses production overseas and can only satisfy its internal consumption by running up the trade deficit. Due to this, recent transition may have different effect on wealth distribution between USA and other countries.
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