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[–] brother_tempus ago 

Technology does not increase the number of jobs and with the rise of autonomous cars we will see the largest rate of job loss.

God not this fallacy again. The notion that automation destroys jobs has been disproven a thousand times, it has risen a thousand times out of its own ashes as hardy and vigorous as ever. This time, the government is not the sole coercive agent. The Luddite rebellion in early 19th-century England is the prime example.

Labor unions have succeeded in restricting automation and other labor-saving improvements in many cases. The half-truth of the fallacy is evident here. Jobs are destroyed for particular groups and in the short term. Overall, the wealth created by using the labor-saving devices and practices generates far more jobs than are lost directly.

Arkwright invented his cotton-spinning machinery in 1760. The use of it was opposed on the ground that it threatened the livelihood of the workers, and the opposition had to be put down by force. 27 years later, there were over 40 times as many people working in the industry.

What happens when jobs are destroyed by a new machine? The employer will use his savings in one or more of three ways:

(1) to expand his operations by buying more machines; (2) to invest the extra profits in some other industry; or (3) spend the extra profits on his own consumption.

The direct effect of this spending will be to create as many jobs as were destroyed. The overall net effect to the economy is to create wealth and even more jobs. We must remember that the short-term local effect is to destroy jobs. In some cases where this effect is major, special relief measures might be taken, but blocking the progress leads to stagnation and poverty. In this case, all four points of the Lesson must be borne in mind.

Prices aren't going to drop if we allow people to work for pennies.

As we see in China, where workers are paid about $3 a day, China exports to everyone because the prices for the goods that cheap labor makes is cheaper than everywhere else.

Your opinion has been disproved

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[–] xklevin1 ago 

http://www.wired.com/2015/04/inside-chinese-factories/

Who would work under those conditions? The reality is that today's technology destroys jobs and their is no replacement. China doesn't have minimal wage but their workers live in horrible conditions and have no rights. The Chinese people are suffering but since they have jobs they will be alright. You are nothing but a troll.

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[–] xklevin1 ago 

Hahahaha CHINA REALLY?