Fisher
DP Veteran
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- Sep 18, 2012
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OK, so it is. It was just a figure of speech. Bottom line was, if an industry becomes obsolete, what do we do? For example, if someone discovered cheap anti-gravity and cars could fly with no petrol, how would that impact the oil industry, the coal industry and the economy?
It would destroy the oil industry. The coal industry could survive since that is more for electricity than locomotion; and it would do wonders for the insurance industry selling rider protection against litter falling through your roof Obsolescence just isn't a matter of technology though. It is also a matter of competition. I, for instance, think the American auto industry is obsolete simply because but for government carrying it along, it would collapse. That is the more fundamental issue that we are facing economically today--an obsolete wage/benefit model.