$1k a month. It should help the Alcohol and Tabacco industries.
3.8
Average: 3.8(5 votes)
Comments
danmanjones (Old Spike)
I like that he has a plan. I've not looked into it but instinctively the "automation will take our jobs" seems historically inaccurate. It's the same meme that's been pushed since the beginning of industrialisation.
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sato (Old Spike)
actually that totally did happen. it was only saved by prohibiting child labor and enacting the 40 hour week, which together reduced the workforce by about half. without those new laws unemployment would've been massive. there are other solutions though, such as reducing the working week to 25 or 30 hours so more people are required at the remaining human jobs, an income limit so the top jobs can't be taken by one person but instead multiple people work them in shifts, or reducing the retirement age to 50, again freeing up a lot more jobs.
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paddle21 (Short Spike)
In theory, lowering the retirement age might open more opportunities but again most people now working at or past their retirement age do so because they cant afford to retire. Reducing work week, im not so sure that would work anymore. Given that people are not just competing for jobs in their own country, not being able to work does more harm than good.
To daman's comment, automation is very much real and a lot sooner than most people think. Some industries more than others. I work in the oil & gas industry and there's tools that currently exist or being developed to automate tasks that i couldnt have imagined being possible 2 or 3 years ago.
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sato (Old Spike)
but the reason they have to work past retirement age is because wages are so low. the biggest problem for wage growth right now is no space to get promoted into. there are tons of people in their 40's who'd do great in upper management, but all those people are filled by people in their 50's who will still be in those jobs for the next 10-15 years. if the retirement age was 50, companies would employ 30% more and the people would also move into higher paying positions quicker.
on the work week, the last time that was reduced because automation was hurting employment, both workers and their companies profitted.
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username (Long Spike)
I don't know how anyone can look at the saving vs. spending habits of Americans and conclude that the reason so many have to continue working beyond retirement age is because of low wages. If you've been working for 40 years and haven't saved a percentage of your income commensorate with your lifestyle to support yourself in old age, you are a FOOL. Over the course of those 40 years you should've acclimated and learned how not to overspend. Low income means low expenditure, and small savings. Big income means bigger expenditure and bigger saving... When looked at as a percentage, BOTH of these people should be replacing post-retirement work time with money accrued in the month-to-month savings (and investment) in those 40 years. SMH
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sato (Old Spike)
he leaves out the most important point, that without universal income, those companies will also be fucked because nobody will have any money to spend at those companies. who's going to buy the iphone 20? the only 100 people left who still have a job?
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theblackswordsman (Old Spike)
Another benefit to a shorter work week is that half your time will be freed up to pursue a passion. Which could lead to more innovation, even more jobs, and a second rennaisance.
Comments
(Old Spike)
I like that he has a plan. I've not looked into it but instinctively the "automation will take our jobs" seems historically inaccurate. It's the same meme that's been pushed since the beginning of industrialisation.
(Old Spike)
actually that totally did happen. it was only saved by prohibiting child labor and enacting the 40 hour week, which together reduced the workforce by about half. without those new laws unemployment would've been massive. there are other solutions though, such as reducing the working week to 25 or 30 hours so more people are required at the remaining human jobs, an income limit so the top jobs can't be taken by one person but instead multiple people work them in shifts, or reducing the retirement age to 50, again freeing up a lot more jobs.
(Short Spike)
In theory, lowering the retirement age might open more opportunities but again most people now working at or past their retirement age do so because they cant afford to retire. Reducing work week, im not so sure that would work anymore. Given that people are not just competing for jobs in their own country, not being able to work does more harm than good.
To daman's comment, automation is very much real and a lot sooner than most people think. Some industries more than others. I work in the oil & gas industry and there's tools that currently exist or being developed to automate tasks that i couldnt have imagined being possible 2 or 3 years ago.
(Old Spike)
but the reason they have to work past retirement age is because wages are so low. the biggest problem for wage growth right now is no space to get promoted into. there are tons of people in their 40's who'd do great in upper management, but all those people are filled by people in their 50's who will still be in those jobs for the next 10-15 years. if the retirement age was 50, companies would employ 30% more and the people would also move into higher paying positions quicker.
on the work week, the last time that was reduced because automation was hurting employment, both workers and their companies profitted.
(Long Spike)
I don't know how anyone can look at the saving vs. spending habits of Americans and conclude that the reason so many have to continue working beyond retirement age is because of low wages. If you've been working for 40 years and haven't saved a percentage of your income commensorate with your lifestyle to support yourself in old age, you are a FOOL. Over the course of those 40 years you should've acclimated and learned how not to overspend. Low income means low expenditure, and small savings. Big income means bigger expenditure and bigger saving... When looked at as a percentage, BOTH of these people should be replacing post-retirement work time with money accrued in the month-to-month savings (and investment) in those 40 years. SMH
(Old Spike)
he leaves out the most important point, that without universal income, those companies will also be fucked because nobody will have any money to spend at those companies. who's going to buy the iphone 20? the only 100 people left who still have a job?
(Old Spike)
Another benefit to a shorter work week is that half your time will be freed up to pursue a passion. Which could lead to more innovation, even more jobs, and a second rennaisance.