Under the textbook theory of "creative destruction", capitalism will destroy certain jobs and industries and create new ones in their place. Detroit has been experiencing "creative destruction" for decades now and we see that it's really all about destruction and very little creation.
It's a lot easier to eliminate jobs than it is to create new ones. This is a lesson the econo-dunces will learn the hard way when their faculty positions are eliminated and their next best option pays twenty-five cents on the dollar...
U.S. Manufacturing Employment since 1940 (w/U.S. population blue line)
The Second Derivative Delusion. Detroit's Facade Has Fallen
Unlike most other cities, Detroit's facade has already fallen, exposing the rot and stagnation beneath it. The rest of the country still operates under the delusion that the status quo is working even as the second derivative, job attrition, runs laps around "job growth". Debt-adjusted job growth is deeply negative. Every job created since 2007, required $1 million in Federal debt accumulation. And yet, they are mostly all low paying McJobs that were created.
The Obama Pseudo-Recovery: The Greatest Lie Ever Sold
Total part-time jobs
Part time for economic reasons: "Individuals who want and are available to work full-time but who are working part-time because of poor economic conditions or an inability to find full-time work."
Part time for economic reasons: "Individuals who want and are available to work full-time but who are working part-time because of poor economic conditions or an inability to find full-time work."
"It Can't Happen to Me"
The point in all of this is that Detroit has had the better part of four decades to replace the automobile industry with something "better" and it hasn't worked. Detroit, therefore, is merely a glimpse into the future for every U.S. city. Once the high paying jobs are obliterated along with Globalization, they won't be coming back. The frat boys who are so adept at eliminating well-paying jobs, couldn't create a new job in this country if their fucking lives depended on it. These people are sociopathic liquidators, not creators.
Secondly, the theory of "Creative Destruction" is a latent disaster, so we'll just have to wait for the unemployed econo-dunces to re-write their textbooks. If the second derivative rate of job attrition exceeds the organic rate of job replacement, then massive unemployment will result. This is all just common sense of course.
Third, the multi-decade experiment in Ayn Rand's infantile "Rational Self-Indulgence" is ending. Someone had to try it, so now we can move on to adult forms of governance, while the man-boys go jump off a fucking bridge somewhere.
As it was in the Soviet Union at the very end, now we are just being lied to constantly. The worst part in all of this is that the sociopaths telling the lies don't even know they are lying. Because if they did, they wouldn't be hanging around waiting to see how this all "turns out".
As it was in the Soviet Union at the very end, now we are just being lied to constantly. The worst part in all of this is that the sociopaths telling the lies don't even know they are lying. Because if they did, they wouldn't be hanging around waiting to see how this all "turns out".
