A very sobering post for which neither the left nor the right have the answer. The author compares Kodak which 20 years ago was a blue chip company to Facebook.
“…At its height, Kodak employed 150,000 people— 60,000 in Rochester alone.
In 1997, Eastman Kodak’s stock price hit an all-time high of $94.75 as the company’s market value soared to $30 Billion. In 2012 when the company filed for bankruptcy, the stock was worth just 78 cents, the company just $145 million.
It was one half of one percent of its value 15 years earlier….. Every day, Facebook users post about 1.5 times more photos than the total photos taken by mankind in a day during the height Kodak’s profitability in 1997. In the world of storing and sharing imagery, things are better now. It’s not close. Nor debatable.”
The American worker is more productive than ever. But with changing technology, much of that doesn’t matter.