In short, the idea that innovation destroys jobs comes around in every generation. So far it has proved wrong. Over the past two centuries productivity in agriculture dramatically increased, but farm workers moved to cities and got jobs in manufacturing. Then productivity in manufacturing rocketed upwards, freeing huge numbers of people to work in services, yet still there was no sign of mass unemployment. Candles were replaced by electric lights, but wick trimmers found other work. Millions of women joined the paid workforce, at least partly as a result of innovation in washing machines and
...more
