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Obviously it’s in his interests to write that. There’s likely some trivial sense where it’s true but there are always jobs being destroyed in some parts and cre
by dan-robertson 4y ago
Obviously it’s in his interests to write that. There’s likely some trivial sense where it’s true but there are always jobs being destroyed in some parts and created in others.
Ignoring that sense, I think it’s a reasonable opinion to hold today, even if it turns out to be wrong.
Fun fact: there are more bank tellers in America now than when ATMs were invented.
- anonymouskimmer 4y ago> Fun fact: there are more bank tellers in America now than when ATMs were invented. Proportionate to the population?
- DaiPlusPlus 4y agoYes. At least, that’s ostensibly how things were right-up until the mid-2000s when online banking (and then covid) upended retail banking - but the general gist of the story is: The introduction of ATMs meant that a branch could be operated by far fewer people than before, which reduces their operating costs - but more importantly: the investment or business risk involved in opening a new branch in the first place. Where previously a branch could only be opened in a city with a population big enough to supply, say, 10 branch employees, after the introduction of ATMs it becomes possible to open far more branches in more cities and locations as only, say, 3 people, would be needed to run it. So previously there would be a smaller number of larger branches, now there’s a larger number of smaller branches, but more people employee overall.