Comment Re:bringing in more H1Bs will solve this problem (Score 1) 250
Capitalism didn't exist in most places and times, so naturally. But it's getting harder to get or keep a job, and if you have one, it pays less than it used to
Not every business cycle is a boom. We're just coming out of a ~15 year downturn, a bit worse than the one in the 70s, not as bad as the one in the 30s. It doesn't say much about capitalism, other than that it has business cycles.
The problem is, as more and more people are made unemployed or fall into poverty despite having jobs
You know, it's been hotter every month for the past 6 months - OMG it's the global warming, it will be 300 degrees in a decade! Either that or the seasons are cyclic, sort of like the economy. One of those.
The only serious economic issue we face is public debt. Life always seems better when you're living beyond you're means. Your standard of living is certainly higher while your running up credit card debt like crazy. The Boomers did that with the nation as a whole - running up the national debt like crazy (which did improve everyone's standard of living for a while, thus the misleading impression that they had it better). We'll be generations paying that binge off, with an appropriately lower standard of living to show for it. The US national debt is $150k per taxpayer now. That's going to be a drag on everything, and might well blow up. But that's the flaw in democracy, not capitalism.
"end products" will be electricity and ink-equivalent.
End products are what we use in daily life - doesn't matter where they're made. I expect some small measure of in-home "manufacturing", growing gradually over time. The feedstock for that will still be raw materials, however, despite being shipped to the end user.
The current revolution is in automating everything automatable, sending manufacturing jobs (and mindless clerical paper-shuffling jobs, and mindless service jobs) the way of farming jobs. Just like every previous technological step forward, it will be a good thing in the long run.