Jobs which have been destroyed by both free trade and the information technology revolution are being replaced with far inferior economic substitutes. In stark contrast, those who left farms to work in factories during the Industrial Revolution benefitted from better economic opportunities, jobs and higher pay. It is intellectually disingenuous for any of us to ignore this stark distinction.Automation also increases consumer spending because the reduction in prices is a net benefit generally that outweighs the loss from displaced workers.With all due respect, that narrative is a fraud and a lie.
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