Except that the cost for the adult has already been incurred while educating the child is a future expense.
Factories constantly get more efficient. Imagine you inherit two empty lots. You decide to put factories on both, but one at a time. So you put a factory on one of the lots but just as it finishes, disaster strikes and you have to lose one of the lots including any structure that exists upon it. Silly you, forgot to get insurance so it will be a total loss. With your logic, you always choose to lose the lot with the factory already upon it because the empty will hold a factory in the future which might be more productive. But you blatantly ignore all risk involved in building a factory, that efficiency gains are not guaranteed, that efficiency gains accrue to both factories, and that losing an already built factory is a much larger actual loss.
I can't think of anyone who'd rationally choose to lose the newly minted factory over the empty lot.
Hilarious. Not only do you have to abandon your oversimplified example about children, but now you move the goalposts and include a bunch of "if this happens, if that..." qualifications. One cannot apply "if this happens" to one situation AND not apply it to the other situation. How does one know if the existing factory, reliant on current technology will degrade in a much more rapid pace than future technology, etc? I can go on for days with statements like that regarding the output of the current factory. Do I see you also include that in your suddenly new and revised example? Of course not. You cannot critique a future factory with ifs and buts and not turn it around and also apply it to the current factory. Like I've said multiple times, you haven't seriously thought about the implications of your poor examples, and this is yet another that highlights that very point.
And then you top it off with: "losing an already built factory is a much larger actual loss." That statement infers that future productivity is of benefit, despite your denial of trying to invoke future productivity. The day a factory is built, it is a net detriment to society because it hasn't produced anything and has invoking costs for construction. Its yield to society is based on what it will produce.
That's the problem with ideas of "libertarianism" and "communism." They sound great when somebody does math on a napkin, but when reality strikes, it all breaks down.
1) Sure, but keep in mind that the difference between a young adult and a young child isn't that great. And any gains in productivity accrue to both while they are working, so your entire premise is that the huge productivity gains in the last few years of work for the child will offset the entire guarantee of my already incurred loss. I guess this should be a lesson in risk for you.
Over the past 20 years, productivity has increased by 33%. Trying to diminish that by calling it "isn't that great" is revising history. Maybe you should also consider the lesson that same risk applies to the adult because they have their own future risk. Seriously, think about what you are saying before saying it, you are just refuting your own logic.
2) That productivity gains mean that the human itself has a large marginal value. You can pick specific sectors (manufacturing being a commonly used example) and see that productivity gains have an inverse effect on employment due to automation: https://seekingalpha.com/article/40...whelmingly-increases-productivity-coming-back. Ironically, your much vaunted productivity gains increase the risk that the child will not be adding productive labor at all (essentially replaced by a robot). Once we've automated enough (and that may actually be now), it might actually be possible to increase per capita productivity by having *fewer* workers, not more (per capita productivity is just GDP divided by people).
Did do you even consider the fact that when a worker leaves the manufacturing field, they can work in other fields and that productivity isn't accounted in that table? You keep adding more and more nuances which just end up shooting yourself in your foot.
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