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The World Bank's Modest Proposal: Create 600 Million Jobs In 15 Years And All May Yet Be Well

Tyler Durden's picture




 

In order to avoid social unrest and absorb the world's young people entering the global workforce, the World Bank Development Report states that 600 million jobs must be created from 2005 to 2020. As Bloomberg BusinessWeek reports, jobs should be at the top of governments' agendas or they could face  further uprisings such as toppled leaders in Egypt and Tunisia. "Demographic shifts, technological progress, and the lasting effects of the international financial crisis are reshaping the employment landscape in countries around the world," World Bank President Jim Yong Kim said in a foreword to the report. "Countries that successfully adapt to these changes and meet their jobs challenges can achieve dramatic gains in living standards, productivity growth, and more cohesive societies." However, those countries that don't adapt, face the kind of social unrest we have warned of again and again - and are starting to see in more and more civilized Western nations. So - a mere 600 milion jobs and all is well - amazing!!!

 

 

Their findings:- 90% of jobs are created in the private sector and so Governments must create an environment that encourages investment - especially in small- and medium-sized business.

 

 

 

90 second clip summary on Private Sector Job Creation:

 

2 minute clip on Joblessness and Social Cohesion:

 

and the full document (pdf):

WDR 2013 Report

 

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Tue, 10/02/2012 - 11:52 | 2848522 GetZeeGold
GetZeeGold's picture

 

 

We need a big hope nuke.

Tue, 10/02/2012 - 12:24 | 2848662 Oh regional Indian
Oh regional Indian's picture

Work, as we know it today, is a Protestant (conditioned) disease.

ori

Tue, 10/02/2012 - 13:02 | 2848830 Totentänzerlied
Totentänzerlied's picture

Highly dubious claim. Care to elaborate on why the Protestant work ethic is bad, or better still, propose an alternative that doesn't involve literal feudal serfdom a la the European Dark Ages for 90% of the population?

It would be nice if you provided some hint as to your metrics of good and bad as regards work, hopefully something not entirely abstract, postmodern, and/or Marxist like "alienation", unless you can offer a rigorous definition thereof!

Tue, 10/02/2012 - 14:35 | 2849167 Don Keot
Don Keot's picture

I guess i'm old fashion but someone will have to explain how you can have real economic growth without producing anything.

Tue, 10/02/2012 - 15:33 | 2849382 Panafrican Funk...
Panafrican Funktron Robot's picture

This is completely true.  Monkeys spend about 8 hours of week of actual work, in order to maintain their standard of living.  Why are us hairless monkeys working so much harder, particularly given the superior technology we have available?  

Also, there needs to be a serious conversation around what we're all going to do when technology inevitably replaces human labor, as it has been (in an accelerating fashion) for some time now.  

Tue, 10/02/2012 - 12:35 | 2848708 Silver Bug
Silver Bug's picture

Just try not to lose 700 million jobs why your at it.

 

http://davidmorganblog.blogspot.ca/

Tue, 10/02/2012 - 11:53 | 2848523 ihedgemyhedges
ihedgemyhedges's picture

I just hired a hot 23 year old blonde secretary.  So that's one job down.  So to speak...........

Tue, 10/02/2012 - 13:42 | 2848990 LULZBank
LULZBank's picture

Let me know, if you need growth.

Tue, 10/02/2012 - 14:44 | 2849188 Zero Debt
Zero Debt's picture

Any study that pushes "gender equality" has cultural marxist undercurrents. Be warned.

Tue, 10/02/2012 - 16:25 | 2849594 Flakmeister
Flakmeister's picture

Closet mysoginist, are we?

Tue, 10/02/2012 - 11:55 | 2848525 bigdumbnugly
bigdumbnugly's picture

600 million jobs need creating?

i could foresee a nice rise in obama phone repairmen.   but 600 million?  that might take a few more months

 

Tue, 10/02/2012 - 11:53 | 2848529 insanelysane
insanelysane's picture

According to my calculations that is 3.3million jobs per month which is no problem since the MSM is estatic that the US added 100k jobs last month.  Of course my numbers could be wrong as I have never attended a BLS Numbers Adjustment Course.

Tue, 10/02/2012 - 12:52 | 2848790 sgt_doom
sgt_doom's picture

This is an interesting phrase:

"..so Governments must create an environment that encourages investment - especially in small- and medium-sized business."

Frequently, speculation is confused with investment at this site, so one hopes they truly mean investment and not speculation.

I assume that recent republican-majority passed legislation in the US congress, giving small business loan preference to those "small businesses" which had already received investment from private equity firms and/or hedge funds, isn't part of the deal????

Tue, 10/02/2012 - 11:53 | 2848530 pods
pods's picture

Well hell that is all we have to do?

Why didn't anyone think of that before.  Let's just create jobs?

And if we get those 600 million jobs, oil is going to shoot out of our arses and every kid will have a unicorn!

Too bad the World Bank didn't only exist in the history books, like the passenger pigeon.

pods

Tue, 10/02/2012 - 11:55 | 2848533 Arthor Bearing
Arthor Bearing's picture

We could impose trade barriers on countries which practice slave labor so American workers don't have to compete with Chinese slaves for blue collar work, but that would threaten the wealth of some plutocrats so the option is off the table.

Tue, 10/02/2012 - 11:56 | 2848535 LawsofPhysics
LawsofPhysics's picture

Ross Perot is that you?

Tue, 10/02/2012 - 12:08 | 2848594 LULZBank
LULZBank's picture

Oh okay... so you manufacture iPhones in US, employing American workers and then everyone gets one via ObamaPhone scheme and then what?

Make the Apple labour force redundant? Job losses?

Or perhaps drive down their employment conditions to "slave" standards to make the products cheap enough to fuel consumption.

Better to do it offshore than onshore in US, some may suggest ;)

Tue, 10/02/2012 - 12:27 | 2848682 Arthor Bearing
Arthor Bearing's picture

People would have to pay more for their shiny extraneous distraction devices. Net benefit, people who need a shiny screen to stare at literally everywhere should be poorer. It's like a private-sector tax on short attention spans.

Tue, 10/02/2012 - 12:35 | 2848705 LULZBank
LULZBank's picture

Seems like you missed the point.

Once the high end consumer segment is saturated, you can only try to lower the production cost to get the lower next consumer segment.

You want to see your sales forecasts and profit charts hoing up.. up and beyond... No manager wants to hear "we have no more people left to sell our products to."

Tue, 10/02/2012 - 16:23 | 2849581 Arthor Bearing
Arthor Bearing's picture

And you are making the all-too-common of comflating consumption and economic health. Eat some psylosibin mushrooms and go back to the garden.

Tue, 10/02/2012 - 12:12 | 2848610 Urban Redneck
Urban Redneck's picture

The resulting loss of shiny iCrap to wow the muppets with would result in ever faster riots...

Tue, 10/02/2012 - 12:59 | 2848815 sgt_doom
sgt_doom's picture

".. so American workers don't have to compete with Chinese slaves.."

If you seriously believe American workers are "competing" when the American-based multinationals ship the jobs over there, create new jobs there, and use American foreign aid to finance various factories, production facilities, training centers, call centers, etc., there and elsewhere offshore, then you are really, really clueless. (Labor arbitrage has nothing to do with competition, but extracting the most profit for the Transnational Capitalist Class.)

Obviously, Arthor Bearing, we'd have to begin by imposing trade barriers on Amerika, since the American gov't routinely awards contracts to slave labor in privatized prisons in America, instead of small and medium-sized private sector businesses which could compete!

I mean, your comment simply speaks volumes and volumes of unending ignorance.

I heard a BBC Brit correctly state that Americans are "staggeringly ignorant" about American politics and current events.

Thanks for proving him right, should you be an American.

Tue, 10/02/2012 - 13:15 | 2848888 Totentänzerlied
Totentänzerlied's picture

A-b-s-u-r-d or just idiotic. Americans need jobs, Chinese need jobs, jobs are scarce and markets are international, et voila, labor competition. 

You have taken the definition of competition and simply removed all meaning from it. Bravo. Your post is rambling non-sequitur incoherence smacking of self-satisfaction and petty vulgar anti-capitalism. You are as much in error as is the poster to which you are responding.

" imposing trade barriers on Amerika, since the American gov't routinely awards contracts to slave labor in privatized prisons in America"

Yes unlike the Chinese whose record of respect for human rights and economic meddling is pristine and spotless. Shill-out man.

I mean, your comment simply speaks volumes and volumes of unending self-righteous proletarian economically-deaf-dumb-and-blind-ignorant bullshit, and an even bigger ego.

Tue, 10/02/2012 - 16:23 | 2849585 Arthor Bearing
Arthor Bearing's picture

Except my post was free of errors because it was based on simple and demonstrable principles rather than complex theoretical proofs.

Tue, 10/02/2012 - 16:21 | 2849575 Arthor Bearing
Arthor Bearing's picture

Chinese do work that Americans could do, for far cheaper, thus pricing Americans out of the marketplace. Rather than implicitly trumpeting your own competence by deigning to insult my lack thereof, you could bother to learn basic principles of economics. You are right about crony capitalism of which private prisons are a factor, but even private prisoners aren't doing much in the way of manufucturing. That happens in Mexico and China. 

See how easy it is to make a coherent point without veering off into ad hominims? Though f I may indulge just one insult for you, your little shaming viz. the judgment of the English (which I presume is what you meant by Brits) makes you look like a pathetic pedant. I could give a shit what the English have to say about Americans, I can judge for myself who among us is knowledgeable and who ignorant.

Tue, 10/02/2012 - 11:55 | 2848534 LawsofPhysics
LawsofPhysics's picture

Good jobs means that something real or of real value is being created.  Sorry, not buying into any new financial "product" bullshit.  Making real things requires real energy and real commodity input.  Did a whole bunch of fusion reactors come on line or something?  Maybe we are simply talking about channel stuffing here.

Shit, what did I miss? 

Tue, 10/02/2012 - 11:58 | 2848546 PiratePawpaw
PiratePawpaw's picture

Most likely someone will hire about a million people to make 599 million rifles and a crap-load of bullets. That should about do it.

Tue, 10/02/2012 - 11:58 | 2848547 Temporalist
Temporalist's picture

Maybe I'm wrong about this but if governments could "create" jobs wouldn't they have done so already?

Tue, 10/02/2012 - 12:05 | 2848577 LULZBank
LULZBank's picture

No.. they were waiting for someone overpaid ugly prat from IMF or World Bank, think tank kinda personality to make this "advise" to them. People at the World Bank and advisers need employment too.

Tue, 10/02/2012 - 13:01 | 2848827 sgt_doom
sgt_doom's picture

Yeah, and if they could put a man on the moon, we' have a moon station by this time .....

Tue, 10/02/2012 - 13:23 | 2848915 Totentänzerlied
Totentänzerlied's picture

Non-sequitur, flawed analogy. Try again. Show me the government jobs-plan that isn't funded by taxes or debt and doesn't rely on artificial incentives, tax breaks, monopoly/cartel privilege, intellectual property fraud, barriers to entry, artificial scarcity, etc. and therefore has the possibility of being productive for the economy.

Stealing money and handing it out to your friends is not a jobs plan.

Tue, 10/02/2012 - 13:46 | 2849004 LULZBank
LULZBank's picture

 

Stealing money and handing it out to your friends is not a jobs plan.

It is actually... in a way... if you think about it...

Tue, 10/02/2012 - 14:47 | 2849197 Zero Debt
Zero Debt's picture

Why should they. If they did they would be out of a job themselves doling out stolen goods.

Tue, 10/02/2012 - 11:59 | 2848551 Mad Mad Woman
Mad Mad Woman's picture

So what are the big corporations going to do, continue to sit on huge piles of cash?  I guess they don't really realize that they're shooting themselves in the foot while waiting for the "uncertainty" to pass. How's that 4th Quarter going to work out for you Corporate America?  Karma's a bitch you assholes!

Tue, 10/02/2012 - 12:19 | 2848640 Shizzmoney
Shizzmoney's picture

So what are the big corporations going to do, continue to sit on huge piles of cash?

Yes, until they get their way.

Corporations are currently locking out the labor class until the "government" enforces what they must be willing to accept:

- higher taxes for workers in the 4th and 3th percentile

- lower taxes on corporations (but not small businesses, ensuring monopolies)

- and of course, creating and inflating a high unemployment number which dilutes the labor pool so deep, that workers have no choice but to accept Chinese niggard wages.

Hedge accordingly.

Tue, 10/02/2012 - 13:06 | 2848845 sgt_doom
sgt_doom's picture

Thanx, shizz, and well stated.

The two obvious biggest contradictions today, which the paid newsies repeat, and the Ameribots mindlessly repeat ('cause that's all they are good at):

(1) Corporations and banks are making record profits, but "afraid" to hire?????

(2) US households lost $17 trillion in wealth, savings, assets and value between 2007 to 2009, but are "afraid" to spend money (as in what frigging money, douchetards????)?

Banksters et al. make the most profit from paying the least for labor, and consumers (formerly known as citizens) don't have any money to spend.

Reality Economics for Truth Seekers
 
The last several weeks I've heard over 40 people, and several Brits, on various news shows either incorrectly --- or falsely --- claim that the American economy is a consumer-based economy.
 
Wrong, wrong and wrong --- hasn't been such since at least 1999.
 
Today, the top 5 banksters in America account for the majority of the GDP, not only is this wrong in and of itself that such should be, but it's based upon a financial scam.
 
The banksters' creation, ownership and control of over $100 trillion worth of credit derivatives gives them that majority of the GDP --- the same credit derivatives which Bernanke's Federal Reserve buys up with his QEI, II and III --- naming them toxic assets and allowing the banks to create the next wave of credit derivatives.
 
Based upon these toxic assets/credit derivatives these banks peddle goods and services which make up a portion of that 70% consumption figure of the American economy we are always hearing stated --- yet we never hear the breakdown of that 70% consuming figure.
 
The vast majority of that 70% consumption derives from
the top 20% of the population --- decidedly not the majority, simply the wealthiest, the logical outcome of the super-concentration of wealth predicated on the American fantasy-finance based economy.
 
It is really that simple.

Tue, 10/02/2012 - 13:27 | 2848930 Totentänzerlied
Totentänzerlied's picture

"Yes, until they get their way."

Just what do you think the last 200 years have consisted of?

The hilarious irony is that you oppose corporate fascism with proletarian socialism, the result is of course identical for the man in the street: worserer.

Tue, 10/02/2012 - 15:42 | 2849426 Panafrican Funk...
Panafrican Funktron Robot's picture

"The hilarious irony is that you oppose corporate fascism with proletarian socialism"

That was a logic leap you made, and it is a false dichotomy.  Fuck you, govvy troll.  Get the fuck off this board.

Tue, 10/02/2012 - 12:03 | 2848568 LULZBank
LULZBank's picture

What happens, lets suppose, everyone on this planet has a house, a car and an appropriate iGadget... What happens then? What goods and services would need to be produced to keep the employment levels?

Otherwise.. its just a job creation and job destruction cycle to keep the sheeple busy and people at the top trying to sound like they know what they are talking about and deserve to be respected and paid stupid salaries.

Tue, 10/02/2012 - 12:12 | 2848609 pods
pods's picture

Bankers want growth.

You don't think that interest is going to pay itself, do you?

pods

Tue, 10/02/2012 - 12:21 | 2848653 LawsofPhysics
LawsofPhysics's picture

Correct.  humanity itself is the ponzi.  Unfortunately for bankers the slaves still require food and other real commodities to survive.

Tue, 10/02/2012 - 12:27 | 2848683 pods
pods's picture

We do not have to be.  But with this system of debt money and interest it forces society into exponential (I liked your yeast analogy, very fitting) growth and collapse cycles.

So everything in life today is based upon covering up the fractional reserve lending lie.

In-fucking-sane!

pods

Tue, 10/02/2012 - 12:23 | 2848659 LULZBank
LULZBank's picture

Given, the "interest" portion of the "print money" is never printed, its always paid via your slaving (some may call it labour) or via reducing your consumptions (soon to be just food rations).

Welfare programmes can spread it over the population for a while, but thats what it will come down to eventually.

Bankers want growth, just to increase the magnitude of the intended "harvest" and the size of the slave population, not exactly to get back the interest pad in full via money, as that actually causes a collapse in the financial system.

Tue, 10/02/2012 - 13:31 | 2848946 Totentänzerlied
Totentänzerlied's picture

"Welfare programmes can spread it over the population for a while, but thats what it will come down to eventually."

You mean we never left the gift economy? Oh, the humanity! Say it ain't so!!!

Tue, 10/02/2012 - 13:07 | 2848853 sgt_doom
sgt_doom's picture

Churn, you mean, and they have churn with Bernanke's QE I, II, III ..., buying up their toxic assets (formerly known as credit derivatives based upon layers of debt) to afford the banksters the opportunity to create ever more credit derivatives.

Churn, or false profit and thievery....

Tue, 10/02/2012 - 12:27 | 2848681 GoldenTool
GoldenTool's picture

Isn't this were we have been for the last 30 years?

 

operari sequitur esse

Tue, 10/02/2012 - 12:04 | 2848574 PUD
PUD's picture

Correction..."saved" or "created" 600 trillion jobs. fixed it for ya..yes we can!

Tue, 10/02/2012 - 12:08 | 2848585 Bicycle Repairman
Bicycle Repairman's picture

I'll let you in on a little secret:  lots of people don't want jobs.  They just want a check and complete freedom.

Tue, 10/02/2012 - 12:13 | 2848613 XitSam
XitSam's picture

There are new jobs in Detroit. Convenience store owner.

Just give me the freedom. I'll skip the check.

Tue, 10/02/2012 - 12:23 | 2848656 pods
pods's picture

Yikes, Detroit is lost.  Time to just GTFO of that hellhole.

Doesn't anyone own a rifle there?  I mean, one guy says "We are taking this store from you dammit and there isn't anything you (BOOM!).

Any questions?

As an aside I did like the part where the "preacher" was relieved of his $15k rolex, infinity, and other crap.  Man of the people for sure.

pods

Tue, 10/02/2012 - 12:34 | 2848707 XitSam
XitSam's picture

That preacher need to behoove the wise counsel of Obama and redistribute that wealth so everyone can get ahead.

Tue, 10/02/2012 - 13:10 | 2848864 sgt_doom
sgt_doom's picture

You sound like you're describing Tucker Carlson, David Brooks and all the other misinformation specialists with their cush jobs at all the super-rich funded "think tanks" (what a RFLOL that is).

Tue, 10/02/2012 - 12:07 | 2848586 dick cheneys ghost
dick cheneys ghost's picture

Lets see..........what's the population of Africa?

Tue, 10/02/2012 - 12:07 | 2848587 fuu
fuu's picture

For all of you out there without work, I'll hire you. We are going to dredge up all that silver and gold from the lake bottoms across the world. You will have to provide your own wetsuit, flippers, S.C.U.B.A./rebreather, and mask.

We will divvy up the lo...err funds on a per share basis. I get 10 shares, the rest of you get one.

Tue, 10/02/2012 - 12:08 | 2848588 GolfHatesMe
GolfHatesMe's picture

Long Salesforce.com   <sarc off>

Tue, 10/02/2012 - 12:08 | 2848589 HD
HD's picture

600 million jobs? Good news is that the police state is hiring - if you have experience beating back mobs of angry hungry people then apply today!

Tue, 10/02/2012 - 12:11 | 2848606 LULZBank
LULZBank's picture

On a long enough timeline... some day they will be just beating the people up to snatch their food and any possessions they might have. Police is a transitory stage to being mercenaries.

Tue, 10/02/2012 - 12:21 | 2848647 XitSam
XitSam's picture

Spain: You too can get a job a Garbage Bin Lock Specialist! Prevent the homeless and hungry from scrounging through garbage bins for food. Save them from getting nasty diseases by eating discarded food. Ensure leftovers are distributed to pig farmers because pig feed is so expensive.

Tue, 10/02/2012 - 12:21 | 2848650 lizzy36
lizzy36's picture

Police State has been hiring since inception.

Hungry people work for whomever feeds them, even if they know that the hand that feeds them will eventually kill them. But people want to believe they are different, or this time is different or whatever the fuck the meme of the day is.

Now i am off to have chicken and waffles for lunch. Apparently the government is worried that if i stay at my current weight i won't need their drugs/disability payments until i am well into old age ;)

Tue, 10/02/2012 - 12:09 | 2848597 Robslob
Robslob's picture

TRANSLATION:

The World Bank Recommends:
WORLD WAR III

Tue, 10/02/2012 - 12:10 | 2848601 Vincent Vega
Vincent Vega's picture

According to my math that equates to 109,589 jobs per day (including weekends and holidays) for 15 years. Just curious; anybody know what the historical average is???

Tue, 10/02/2012 - 12:27 | 2848680 sdmjake
sdmjake's picture

It's a little less

Tue, 10/02/2012 - 12:36 | 2848716 Renewable Life
Renewable Life's picture

NOT THAT!

Tue, 10/02/2012 - 12:30 | 2848691 XitSam
XitSam's picture

world population growth is about 1.3% per year.  Lets just say 1%.  7 billion population.  70 million jobs per year.  191,000 jobs per day if everyone employed. Not everyone works (at a paid job), so on a very gross approximation, about right.

Tue, 10/02/2012 - 12:30 | 2848693 juangrande
juangrande's picture

Here's the problem as I see it. With technological advances so far, and to come, the number of humans needed to produce goods and services diminishes. Meanwhile the population increases. Now the wealth generated by this non-human productivity is remaining with the relatively few at the top of management. In the current paradigm, this too will increase with tech advances. So, it seems to me some form of wealth distribution will be needed or there will always be uprisings and unrest, especially as more wealth moves into fewer hands. Now, when you consider the finite nature of the earth on top of this, it's easy to see how capitalism is doomed, passe'. We will need a completely different attitude towards wealth, possessions, and, really, each other. We really need to consider what to do about the collective fear-based " human nature".

Tue, 10/02/2012 - 16:49 | 2849162 Flakmeister
Flakmeister's picture

Careful, you are being far too rational... You are not allowed to abstractly think of the collective trajectory of the species H. Sapiens. Only short-sighted self-gratifying avarice is condoned...

Tue, 10/02/2012 - 14:42 | 2849184 blunderdog
blunderdog's picture

It's currently cheaper to convert stored chemical energy into work with machines.  Engines burn gas and plant/harvest crops, motors are powered by burning coal to generate electricity, etc.

If energy costs climb sufficiently high, it will BECOME cheaper to convert chemical energy into work with PEOPLE.  People eat food and then plant/harvest crops, row in galleys to power ships, etc.

At that point, the trend reverses.  No big deal.

Tue, 10/02/2012 - 14:47 | 2849202 Flakmeister
Flakmeister's picture

As long as we have enough food to feed Pharoah's slaves....

And to make a long story short, we don't.....

Tue, 10/02/2012 - 15:08 | 2849296 Don Keot
Don Keot's picture

Yes, back to business as uuaual.

Tue, 10/02/2012 - 20:30 | 2850293 blunderdog
blunderdog's picture

Well, you're right about the current system, but there's no way to know whether that will remain true.

One of the reasons we use such low-yield monoculture farming techniques is because we still have access to cheap oil.

You can VERY EASILY switch to far higher-yield farming techniques once you replace big dumb harvesting machinery with teams of individuals who can distinguish between different plants and harvest only the appropriate food at the appropriate time.  There are actually hippie types running tiny farms (like 10 acres) whose output per square meter is MUCH higher than the big agribusinesses. 

Also, development of new food production options could be brought online.  People in the industrialized world TODAY won't consider the possibility of making insects a significant part of the diet, but attitudes would likely change after 40 years of encroaching famine.  "Quorn" is an  example of something that worked pretty well.

   ---------

Please note: I'm NOT an optimist--I'm certainly not claiming that the planet WILL continue to carry 7 billion people as we exhaust access to cheap oil.  I'm only saying that there's no GUARANTEE that we're going to hit the limits which seem so obvious by today's reckoning.  We are a species of constant change and adaptation.  It certainly seems that if we continue to spend so much of our time and effort on blowing each other up, it'll be harder to do anything good for us long-term.

Tue, 10/02/2012 - 15:43 | 2849431 juangrande
juangrande's picture

That should then take care of population, entitlement, finite resources,et al. We could also just blow ourselves up or irradiate the planet, etc. and wait a few million years to start over!

Wed, 10/03/2012 - 01:46 | 2850975 the tower
the tower's picture

This is the challenge for the next 50 years. We are still postponing the inevitable.

 

It's not all that difficult though: commodities like basic food, clothes, electronics, furniture and housing should be automated and distributed accordingly. Basic varieties, not the luxury stuff. Of course this is where the big bucks are made, so the elite is resisting this. This is where governments should step in, not into bailing out banks and multi-nationals. A basic income with which you can buy basic stuff has to be part of our future.

 

Anything but basic stuff should be largely made in small/mdeium-sized companies with little regulation/taxation, which means people will have lots of opportunities to make good money, this is capitalism how it's meant to be. Think hand-made clothes and furniture, high-tech, designer medicine.

 

So, there is basically no need for multi-nationals anymore, no stock market, no complex financial instuments. Automate the basics, and let everything else be produced in small/medium companies with lots of overhead - overhead is good! it means people are working! Yes, overhead means higher prices, but this is what we want, because these higher prices mean more money in the pockets of people that produce = real wealth and growth.

 

We are not reliving the 20's and 30's, we are reliving the French Revolution.

Tue, 10/02/2012 - 12:40 | 2848728 Bicycle Repairman
Bicycle Repairman's picture

If machines make everything and a barrel of oil does 100 man-years of work, what will these jobs consist of?  Watching one another?  Giving each other abortions?  Erecting FEMA camps and then pulling them down?

Tue, 10/02/2012 - 12:44 | 2848750 Renewable Life
Renewable Life's picture

Are these people on crack cocain?? 600 million MORE jobs!! the biggest economy in the world, (the US) can't create more then 125,000 jobs a month and we are pumping 30 billion in monopoly bucks into the system in liquidity and borrowing a trillion+ more a year???

What magical invention will allow this to happen and in what currency are these people going to paid??

Tue, 10/02/2012 - 12:59 | 2848820 ThisIsBob
ThisIsBob's picture

How aboiut 600 million fewer people in the next 15  years?

Tue, 10/02/2012 - 14:34 | 2849163 Miffed Microbio...
Miffed Microbiologist's picture

I think Monsanto is already working on that outcome.

Miffed:-)

Tue, 10/02/2012 - 13:35 | 2848962 bahaar
bahaar's picture

And what kind of jobs will private sector create?  Other than minimum wage jobs.  One forgets that people now have to compete with machines.  It's an employers' market. Businesses need less and less people.  That's how it has been ever since industrialisation.  West did not notice, because the jobs that were lost were in Asia and Africa.  Westerners believed Asia and Africa are poor because Asians and Africans are dumb and lazy.  Now machines have started to encroach upon jobs in the West.  Time for Western elites/politicians to learn from Asians and Africans how to oppress the 99%.

Tue, 10/02/2012 - 13:42 | 2848994 lesterbegood
lesterbegood's picture

Agenda 21 jobs pogrom: 600 million slaves digging graves for 6 billion slaves.

Tue, 10/02/2012 - 14:12 | 2849089 BattlegroundEur...
BattlegroundEurope2011's picture

Are they cloning Steve Jobs yet?

 

Tue, 10/02/2012 - 14:26 | 2849136 Flakmeister
Flakmeister's picture

Just another way of stating how fucked we are.....

Growth is dead, long live Growth...

 

For those of you of a more intellectual persuasion I recommend

http://www.energybulletin.net/stories/2012-10-01/climate-change-euphemis...

Tue, 10/02/2012 - 16:26 | 2849593 Dawnofinsanity
Dawnofinsanity's picture

Clearly Mr. Jim Kim doesn't recognize that creating 600 million legitimate jobs may finally pack this earth in for good. 

But on a side note is it any suprise that Barack "Spendy" Obama nominated Mr. Kim...Reality is all about perception.

Does anyone remember in the movie Fear and Loathing when our two heros were smashing coconuts off a rented land shark and yelling - this is property of the world bank!!!

Tue, 10/02/2012 - 20:12 | 2850233 toomanyfakecons...
toomanyfakeconservatives's picture

Mitt created at least 600 million jobs in Massachusetts during his term...

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