quote Originally posted by pokeyfiero: [youtube] https://youtu.be/sdzyu-K9E6I [/youtube]

Young people of my era would have got a butt chewin for wearing a cap/hat in the house, especially in front of granny..
"I'll get your good eye boy!!"
Didn't know what that meant when she said it and didn't want to find out.

quote Originally posted by maryjane: The Lewis Turning Point is an economic theory involving the point at which a demographic (usually a nation's workforce) reaches the point in which the supply of surplus labor from rural areas, for employment in cities, is exhausted. Much is currently being postulated regarding when China reaches that point (some say it already has) but my specific question is: When did (or will) the US breach it's own Lewis Turning Point?

Certainly our Lewis turning point has happened and it is almost certainly something that has been fraught over by the real leaders and directors of this country and many others.

Being an uneductad man I wasn't even aware this had a name.

I'd state that I believe it started in the early 50's (maybe late 40's) after war Innovations rapidly increased our productivity.
Maybe the loss of so many able bodied MEN inspired a need to create labor multipliers.

If in fact our surplus labor has been exhausted for many reasons, labor multipiers have kept us going for decades.

Legal immigration as well as illegal immigration have also kept our service industries going regardles of the aurguments for and against.


I'm not sure what this Lewis turning point is supposed to turn into. I feel it is suggesting a mass decline in production.
I think if that is the cae then it has been thwarted for decades here and probably in the future as we are entering a whole new evolution of labor replacement tools.
Unfortunatly these tools may decide we are not needed at all.

I don't believe we are useless though because we have things machines and software will never have.
The need and desire for icecream, biscuits, and to destroy the status quo.

"Lewis Turning Point" is a complicated economic theory.

When a country transforms from agricultural to industrial the higher wages in the industrial cities also increase consumption. This makes the overall economy grow. When workers make more they buy more and companies make more.. Also when there are fewer agriculture workers wages go up on farms due to supply and demand. Eventually an equilibrium is reached where wages will not go up even if more jobs are shifted from agriculture to industry.

We will probably be hearing more about the Lewis Turning Point regarding AI. At some point there will be an equilibrium reached where profits will not be increased by replacing people with AI. When people are not working or making money they don't buy/consume. And no matter how cheap labor costs are companies still need consumers to purchase their products in order to make money.