IPFS News Link • Economy - Economics USA
A Lack of Freedom Is Destroying the Middle Class, Not Chinese Competition
• thedailybell.comDominant Social Theme: Something is always destroying jobs. People are helpless to withstand the challenges. Free-Market Analysis: Once more this weary meme is dredged up. We suspect it will be regularly trotted out within the context of "robots stealing our jobs." Imagine you were on a farm and robots were taking over all the menial tasks. The average economically illiterate person would suggest that sooner or later you would be out of work and starving on the street. In reality, you might find the leisure time to experiment with plants and invent a kind of hybrid that grew better and faster. You would only find time to do this because your other tasks had been taken over by robots. As a result of your plant experiments, your fruit and vegetable crops grew bigger, faster. Soon you were eating more vegetables and fruit and selling more as well. You were perhaps growing healthier because of your diet while gaining wealth from your sales.




