> Increasing productivity never lays people off, unless the people were originally being unproductive.
Maybe in some imaginary world with spherical cows, infinite demand, and no friction (physical or transactional).
In the real world, increasing productivity so that one person can do the job that ten used to do very often results in layoffs. 70 years ago there were hundreds of thousands of telephone switchboard operators in the US. Productivity increased and they got laid off.
Maybe in some imaginary world with spherical cows, infinite demand, and no friction (physical or transactional).
In the real world, increasing productivity so that one person can do the job that ten used to do very often results in layoffs. 70 years ago there were hundreds of thousands of telephone switchboard operators in the US. Productivity increased and they got laid off.