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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!
LRCX 151.94+1.1%Nov 25 3:59 PM EST

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To: Coolwire who wrote (2842)10/21/1997 12:40:00 AM
From: Ian@SI  Read Replies (1) of 10921
 
Jarrett,

I think Schumpeter called the process "creative destruction".

In any case, quality of life in both the US and Canada has never been better: be it health, wealth, access to education, leisure time available, access to adequate supplies of nutritious food, etc.

People live longer, are generally healthier and have more leisure time with which to enjoy their increased wealth. In the last century, 9 out of 10 members of the workforce worked on the farms growing food. Yes, technology displaced some of those workers and will continue to do so, possibly until the end of time. But the displaced workers, once reintegrated into the new work force, tend to be better off.

Personally, I wouldn't choose to live in any previous era nor in some other geographic area. ... though Tahiti, Bali or Fiji may very well be worth serious exploration. But even those become desirable only with the wealth that has been created by a capitalist regime.

I further believe that providing welfare incents exactly the wrong behaviours. The lower tiers, which have become dependent upon various welfare systems, would in many cases be much better off if the existing systems did not exist.

Unfortunately, I don't have the answer to this issue. I would start first in the family, second in the community, and lastly the various levels of government to help those who truly need a hand up. I further believe that the ultimate answer lies within the education system - the skills, knowledge and experience that is imparted to each member of society. Welfare disables people, education could enable them.

My 2 cents worth.

Ian.
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