In reading the views of past successful businessmen and top economists, who are predicting the future or telling us what we should do now to cope with the future I've re-learned a bit of wisdom passed on to me one by my favorite wise men, that the future is never anything like the past nor the present.
Some economists however are in the business of predicting the future and some engaged in what that implies as to how to deal with the future.
I'm looking at the present and see few ways of doing things as we saw them in the past nor do I see how we can do many things in the future. For example, we may have millions more unemployed than we ever expected but we don't have the greatest depression expected. How did that happen?
We have to recognize that some members of families, in many cases remain employed. Some are receiving unemployment insurance payments, some receive monthly Social Security payments and others are retired receiving monthly pension checks. Health care relieves a lot of people much of their health bill, all contributing to money circulation. As this money remains in circulation, it keeps contributing to many business in operation as well as to feeding many people.
This was not the situation that could describe to some parts of the Great Depression. So we cannot predict the future based on these past experiences. We cannot cope with what should have been today's depression, that turned out to be a recession, as we did in the past, although features created as a result of last depression have served to make this one less severe.
Outsourcing wasn't a problem in the thirties. It is a problem today when we talk about business creating a sufficient number of new jobs to employ or re-employ all those who want to go back to work. Twenty-million people can't be advised to merely go out and seek a job when few jobs are available, not even half that number nor a significant portion of that number are there or we wouldn't be in an economic recession.
These jobs don't exist and even as our economy begins turning upward as is being predicted, corporations are not going to hire the way they did. Among new employment characteristics is also the negative job factor of outsourcing.
We are fortunate that most families with unemployed members do not have only one breadwinner as in the past, this present situation having cushioned our general economic fall and present existence..
But the idea of “jobs, jobs, jobs” for the immediate future is a mere misconception. Where are these jobs to be found and what is the process that is developing in our future economy that suggests that the future is going to be like the past with plenty of new jobs?
The amount of money in circulation determines the number of various jobs required to service the demand.
Where is the increased money in circulation coming from? “What comes first the chicken of the egg?” Or is all of the money going to trickle down with the rain? But have you ever immagined money come down with rain, unless you are a farmer of course?