🚀 go-pugleaf

>
>"Anthony H" <mapant@usa.com> wrote in message
....

>> In my pet theory of the economy, the service industry or service
>> sector of the economy expands to pick up those people whose jobs have
>> been shed by the manufacturing or production part of the economy
>> because of increases in efficiency and technology.  Service industrys
>> expand as manufacturing/production industries shrink.  Travel
>> industrys expands (we can all afford to travel more).  Restaurant
>> industry expands (we can all afford to eat out more).  Entertainment
>> industry expands (we can all afford to go see more movies go to discos
>> partys etc) etc etc etc    The service industry expands to take up the
>> slack left by the manufacturing industry....

"Bill Ruggles" <wolf@easystreet.com> wrote:
>
>Then wouldn't it be necessary that the service jobs were paid competitively
>as compared to manufacturing?  

Hi,

Maybe.  But "service" covers a very wide range: doctors and health care 
professionals get good wages.  Lawyers do pretty well, and then there are 
professional atheletes.


>...Actually, it seems that software develepment
>jobs are getting the better pay, ...

Yes, them too.


>....manufacturing is shrinking, ...

Yes.

>...and those who
>used to have good income jobs are now existing to serve those who are in the
>money.  

I see it this way: those with less skill and less education are losing out 
to those with more education or greater skills.

>...Also, don't you have to account for the value of labor vs. the value
>of capital?  While jobs are moving out of manufacturing and into service,
>the owners of capitol are retaining larger and larger percentages of the
>profits.
>

Is the rate of return on capital now higher than in the past?  But I think 
the capital investment per manufacturing job in the USA is now higher than 
ever.


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