Let us look at job losses in a developed country, specifically the United States, more carefully. Job losses can be a sign of a dynamic free enterprise economy, not necessarily evidence of an economy in decline. Around 40 per cent of all US workers were in agriculture at the beginning of the twentieth century, while only 2 per cent were thus occupied at the end of the century, but the 2 per cent produced significantly more than did the earlier 40 per cent. Similarly, with all the talk of the United States losing competitiveness, few realise that employment in US manufacturing peaked in 1944 at
...more
Job losses in agriculture & industrial production In developed nations
