Mark Carolus Posted January 6, 2014 Posted January 6, 2014 Rebuttle, debate, do whatever you want, i just wanted to post this here and see what you guys think of it. As i listen to this, it makes a lot of sense to me, are there any counter-arguments you guys could make?
Andrew79 Posted January 17, 2014 Posted January 17, 2014 To sum the video up: jobs aren't being created because capital is being used to finance efficiency savings, which reduce the amount of jobs, rather than financing innovation, which increases the amount of jobs. So, assuming his theory is right - he doesn't offer any proof for it, it's just his sense that there are less innovations now than there were in the fifties - then he's saying the problem is technological unemployment. He's making the very common argument that the luddites were right...
tjx Posted January 22, 2014 Posted January 22, 2014 To sum the video up: jobs aren't being created because capital is being used to finance efficiency savings, which reduce the amount of jobs, rather than financing innovation, which increases the amount of jobs. So, assuming his theory is right - he doesn't offer any proof for it, it's just his sense that there are less innovations now than there were in the fifties - then he's saying the problem is technological unemployment. He's making the very common argument that the luddites were right... bravo Andrew! it is amazing how much exposure these guys get. we have people who don't have a clue about economics telling us 'what's going on'. he doesn't understand that innovation happens in freedom. he thinks it can be coerced, or tricked into happening with fancy double-speak. so glad you didn't buy into it.
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