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> As long as demand is unlimited and wages elastic Technology can't really destroy jobs in the long term even as it disrupts industry after industry Sure it ca
by krakensden 16y ago
> As long as demand is unlimited and wages elastic Technology can't really destroy jobs in the long term even as it disrupts industry after industry
Sure it can- because in the real world demand /is/ limited [which is why bubbles pop] and wages are pretty inelastic [because raising wages is seen as a one-way ratchet].
Computer programmers can pretend it isn't true as long as we want, but that's because if someone does come up with a real AI, we're going to be the last ones out of the building.