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Agreed. The term for what you describe in your third paragraph is "labor replacement". There is huge profit to be made in labor replacement, with the effect o
by muzz 15y ago
Agreed. The term for what you describe in your third paragraph is "labor replacement". There is huge profit to be made in labor replacement, with the effect of loss of jobs.
It is troubling that few readers pick up on the use of examples with gross jobs created and not net jobs created. In this case, Amit Arahoni's 9 jobs created are gross, not net. A more-clear example would be that of Craigslist. How many jobs has Craigslist created? Well, 30 jobs in gross, but likely a large negative number in net as it played a large part in displacing at least one entire industry (newspapers).