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Technology Stocks : PC Sector Round Table

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To: Yogi - Paul who wrote (817)	9/9/1998 3:58:00 AM
From: Pierre-X	Read Replies (1) of 2025

Interesting point about displaced workers. "It took fifty years for the US to go from needing 30 million farmers to needing less than 3 million ... But it took only five years to go from needing three hundred thousand people making and repairing mechanical carburetors to less than thirty thousand... Or only five years to go from needing one hundred thousand people making vinyl records to none..." (Paul Pilzer p.68-69) "The greatest challenge of our century: misunderstanding unemployment could collapse our political system. Imagine a self-sufficient island with ten men, all of whom make their living by fishing with poles from a communal boat. Along comes a missionary who shows the men a new, technologically better way of fishing--using a large net. Now two fishermen, one to pilot the boat and one to throw the net, can catch the same number of fish as ten fishermen could with lines. On the surface, unemployment on the island has risen from zero to 80 percent, since eight of the ten fishermen are now out of a job." (Pilzer, p.231)

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