Comment by cm2187

The economy has never worked like that. When you increase productivity, you create wealth and you enable other industries to appear. We have gone through numbers of those cycles. The industrialisation of agriculture, then machines in manufacturing, then introduction of computers (think of all the secretarial jobs, computers - as in engineers making calculations, accountants that have disappeared), then outsourcing of the industry to China. But somehow unemployment is low in most western countries. So what makes you think this time it will be different?