I recently had the opportunity to get involved with a company who's President is a brilliant Structual Engineer in his 60's. This man has developed and invented a proved a technology that could WILL change the World. I can't really say what it is due to a contract I have signed. However, this technology will have a huge impact on helping the environment, insurance costs, low income housing, disaster relief (Katrina), Military safety, and the list goes on and on. The problem I am challenged with is, at the same time this technology could put alot of skilled laborers out of work. People that have spent thier entire lives making a living at their craft. It will cause havoc amongst the Unions of America. And I am sure that once this technology is introduced there will be alot of unhappy greedy lobbyist's and poloticians that will try to stop it. I was asked to help bring this technology to market and by doing this, I will be at the forefront. The pay is very lucrative.
Any thoughts?
2007-03-23 08:22:28 · 6 answers · asked by Millionaire in training 4 in Social Science ➔ Economics
Follow your dream and you will be the happiest in life
2007-03-24 10:24:17 · answer #1 · answered by MafiaGal 4 · 0⤊ 0⤋
This happens all the time. Inventions and innovations happen every day, and they put people out of their jobs. Economists estimate that 1 out of every 10 jobs gets eliminated each year.
But, this is exactly what makes a dynamic economy! The invention of the computer, for example, put thousands of pencil-pushers out of work. But, it also created thousands of jobs for computer programmers and computer technicians.
So, don't worry. If this is truly a good idea, it will create other jobs to support the idea.
2007-03-23 16:34:49 · answer #2 · answered by Allan 6 · 0⤊ 0⤋
Technological advances and innovation is what makes the economy grow and expand. Unemployment is natural, in fact the natural rate of unemployment is about 6%. Sure in the short run it is going to suck for those out of a job, but as the economiy grows more jobs will be created and those people who lose their job will recieve training for new industries to work in.
2007-03-23 15:33:06 · answer #3 · answered by Cherry Darling 6 · 0⤊ 0⤋
Whatever this "invention" is, it won't be the first new development that put people out of their old jobs. What happens is that those displaced from their jobs retrain so they fit into a new and different job market. Older employees retire and younger ones retrain.
Is your new "technology" related to housing construction?
2007-03-23 15:37:50 · answer #4 · answered by Kraftee 7 · 0⤊ 0⤋
It's too bad if workers are displaced but this has been going on throughout the 20th Century. Are you sure it will cause so much disruption? The project should proceed anyway if it is as beneficial as you say.
2007-03-23 15:27:04 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Go with your heart.
2007-03-23 15:26:22 · answer #6 · answered by Thelma C 2 · 0⤊ 0⤋