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Why? It would mean a massive pool of money just begging for some cockroach from Goldman Sachs to come around and dump it into mortgage backed securities.
More people are retiring than are replacing them in the work force for one thing. Having pensions paid decades in advance means (in my mind) it smooths out somewhat instead of crashing.
I find it more useful to solve problems vs trying to solve secondary effects. If the workforce of the USPS is not expanding then pay the remaining workers more. If you take the same percentage out of their pay you should be able to balance out the retirees. Why shouldn't it be that way? If a worker today can get ten times as much done as a worker of some point in the past then pay that worker ten times as more.
Now you don't have to worry about government money empires that lead to the crazy market conditions that caused the 08 crash.
It took me a while to figure out what you were saying. I think that could work up to a point where automation becomes affordable and replaces workers. To continue the thought, I suppose then we would have to pay the remaining workers ever-increasing wages until the only workers left are ones we can’t yet afford to automate.
I like that idea but I doubt anyone has the appetite to take that to the natural conclusion, i.e. the CEOs and decision makers would also be automated at some point (my guess is near the beginning).
It already is. Look I am an automation engineer.
A generation ago I would have my own draftsman, a secretary, and three techs. The draftsman is gone, because you can train an engineer how to CAD. The secretary is gone because of email, and the techs are gone because you can order the parts now. I am the one engineer in my department who has a tech report to him and we will see how long that lasts. Basically doing the work that 5 people used to do. Did I get paid their salary?
But it gets worse. We have new software at work. Used to be there were two engineers plus a consultant part time doing my sub branch. Because of the new software when they retired they weren't replaced. I am now doing the work that used to take 2.5 engineers to do. What about their associated secs and drafts people and techs? All me now. I should be pulling a million a year and if you look at what I am making my employer that number adds up.
Oh and on top of all this business has expanded. So now little all me, software enhanced, is doing the work that it took about 20 people to do. Don't believe me? 5 years ago my company produced a baseline model twice a week. In 2022 we produced one on average every 6 working hours.
Where did all the money go? Because I sure as hell aren't seeing it in my pay. Meanwhile I am replacing workers for a living. Making better and better processes that can do more with less human effort. Again, where is the cost savings going?
Go to any chemical plant these days. With the exception of places that are always about to explode (power plants) or ones with new chemical process constantly (some of the newer biotechs) plant operators are gone. The only ones left are maintenance, engineering, management, and business operations. If you have ever drinken a glass of OJ on the eastern seaboard of the US chances are overwhelming that I was in the plant that made it and can assure you the operators are gone.
Sorry for the rant but it's starting to piss me off. I like my job. I am destroying horrible dehumanizing jobs. The fucking beancounters are soring me on my work.