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kleinbl00  ·  350 days ago  ·  link  ·    ·  parent  ·  post: The 'supply-and-demand model of labour markets is fundamentally broken' ...

Long story short, I determined that when the Eisenhower utopia of a chicken in every pot and a mortgage on every family dissolves into a Dickensian nightmare of workhouses and Edwardian hyperluxury, the best bet for the non-wealthy is to sell to the wealthy.

Don't get me wrong: I have a triple-word-score of a job. I make a middle-class living working only four months a year. I've got retirement funds and a pension (!). But if it can be automated, it will be automated and just because they haven't succeeded yet doesn't mean they won't.

Know what's selling right now? Luxury goods.

Know what sells well when rich people get richer? Luxury goods.

At the crush of the Quartz Crisis, when the world was going to end for the Swiss, the Swiss watch industry did $2.7b in sales (in 2017 dollars). Now, when nobody remembers what watches are for and everyone is sporting smart devices from Apple and Motorola, the Swiss watch industry is doing $27b in sales (in 2017 dollars).

So I'm making watches. If you have a choice between making 20 cents on every burger poor people can buy or $20k on every watch a rich person can buy, go for the watch. You'll work less.