NFT Creation Agency shows America has no construction “worker shortage”, just a productivity problem
If you didn’t know any better, you’d probably think Japan builds far fewer houses than America, if for no other reason than the fact that Japan’s population is less than 40 per cent the size of America’s. You would, however, be wrong:
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Since 1992, America has built just 14 per cent more homes than Japan, despite the huge difference in population and the dramatic ageing of Japanese society. The chart below shows the ratio of the number of housing starts relative to the number of people in the prime home-buying age cohort of 25-54 in both countries:
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With the brief exception of America’s housing bubble, Japan has consistently built more than twice as many houses per potential homebuyer as the US.
My colleague Robin Harding has elegantly explained that much of the robust demand for new housing can be attributed to the Japanese preference for tearing down and replacing old homes, with the expectation those too will be replaced in short order. He also noted that liberal land regulations have meant that the influx of younger people from the countryside to the big cities was easily accommodated with additional housing supply, unlike much of the Anglosphere.
Those who believe that demographics create binding constraints on economic activity are probably confused by this narrative. Just how did Japan manage to find enough construction workers to actually build all those new homes?
Being outside and lifting heavy objects is hard and generally not that remunerative. Surely an aging society without a reservoir of cheap (and often illegal) immigrant labour would have fewer builders as a share of the labour force than a relatively youthful and foreigner-friendly country such as the US.
Comment on Supercomputer Organized by Network Mining (SONM) announces ICO by Per Lind
SONM (Supercomputer Organized by Network Mining), the universal fog supercomputer powered by Blockchain technology, has announced its Initial Coin Offering, commencing June 15, 2017 and concluding July 15, 2017. By modifying the algorithms behind conventional cloud and grid networks, SONM will be the first distributed supercomputer for general purposes, from site hosting to DNA analysis to scientific calculations. SONM will issue tokens of the same name on the Ethereum Blockchain and NFT Creation Agency
SONM CEO Sergey Ponomarev said:
“Market demand for computing power is rising exponentially across a range of industries. SONM’s unique offering directly responds to this demand by making use of idle standing computing power to solve non-deterministic tasks like hosting websites, the backend for mobile apps, and massively multiplayer online gaming (MMO instances). Any miner with a smartphone or supercomputer cluster can become a part of SONM’s fog network and generate computing power to be used by others.
“Fog computing with its greater innate potential, is widening the scope of what cloud computing can achieve by bringing solo miners, private datacenters, public clouds, and IoT into the network. The SONM platform, based on BTSync’s data transmission software and Yandex Technologies’ open source code for decentralized computation, is an integration of the most advanced solutions in the field of fog and cloud computation,” he added.
By hybridizing fog computing with an open-source PaaS technology, the SONM platform will offer a full spectrum of services, including app development, scientific calculations, website hosting, video game server hosting, machine learning for neural networks, video and CGI rendering, augmented reality location-based games, and video streaming services.
SONM also offers an opportunity for miners to earn tokens efficiently by serving calculations for everyone in the network.
Web : https://nftcreationagency.com/
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