Enjoyed the piece. Got me thinking about the limits of Jevons paradox.
In a future piece, I’d like to see you dig deeper into the mechanism by which we have created demand for labour (new or old jobs) and what that mean. Presumably, cost reduction led to price reductions (therefore more consumption by all), or profits were invested in assets (who will build them?) or they were consumed by the owners (who will deliver those products and services?). In the medium term, will pricing mechanisms largely address the problem at least in terms of unemployment? (e.g. owners consume more lower skill services).
Enjoyed the piece. Got me thinking about the limits of Jevons paradox.
In a future piece, I’d like to see you dig deeper into the mechanism by which we have created demand for labour (new or old jobs) and what that mean. Presumably, cost reduction led to price reductions (therefore more consumption by all), or profits were invested in assets (who will build them?) or they were consumed by the owners (who will deliver those products and services?). In the medium term, will pricing mechanisms largely address the problem at least in terms of unemployment? (e.g. owners consume more lower skill services).