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The argument is baloney and those pushing it -- if indeed anyone still is -- should be stood against a wall to face a firing squad. If 5m factory workers lose their jobs, trust me -- 5m new jobs paying the same kind of money will not be created in "services." Assuming such workers could be trained for such work en masse to begin with. I would recommend you take a look at Brown and Hesketh's 2004 book, The Mismanagement of Talent, which explodes such puerile and specious arguments. As they carefully explain, the new jobs that are being created in the US and UK are in low-pay and low-skill areas like food catering and old-age nursing.I find academic economists in general to be a dishonest and clueless lot. It's a classic example of the emperor without any clothes. They cite one another in learned papers in academic journals and voila! -- a profession is created.
The argument is baloney and those pushing it -- if indeed anyone still is -- should be stood against a wall to face a firing squad. If 5m factory workers lose their jobs, trust me -- 5m new jobs paying the same kind of money will not be created in "services." Assuming such workers could be trained for such work en masse to begin with. I would recommend you take a look at Brown and Hesketh's 2004 book, The Mismanagement of Talent, which explodes such puerile and specious arguments. As they carefully explain, the new jobs that are being created in the US and UK are in low-pay and low-skill areas like food catering and old-age nursing.
I find academic economists in general to be a dishonest and clueless lot. It's a classic example of the emperor without any clothes. They cite one another in learned papers in academic journals and voila! -- a profession is created.
