Do you think that online business, once mainstream, will eliminate unemployment?
Everyone from the age of 5 to 85 has the ability to start an online business in 24 hours or less. Do you think that, with the globalization of the worlds economy, that ecommerce and other business models will eliminate unemployment?
Well, I do see few small shop-keepers running out of sales due to many online markets . No one prefers to buy things from them . Probably that offers provided my the online markets are more attractive. But online business would also generate a lot of employment which requires skilled workers . It would also destroy few small jobs . Do remember that the invention of cars destroyed the jobs of people who transported using carts and wagons . But the same invention gave rise to so many jobs in the future . Much more than it had destroyed . Did it end unemployment ? No!
The same Thing would happen. Online business would create massive employment, but cannot eliminate unemployment . Not everyone would adjust themselves to every new job created.
What I was referring to was the ability for online business to give unemployed people the opportunity to seek self-employment in any industry. Amazon didn't put Best Buy out of business. Each business model caters to the customers wants.
There is a massive skills mismatch between the work that needs to be done and the skills many people have.
For example, we need electricians, mechanics, repair people, plumbers, skilled tradespeople. That is work neither robots nor artificial intelligences nor unskilled migrants can do.
Instead, we graduate people with four year degrees in political ideology and tell them to expect to be managers, when we need skilled labor.
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