Yesterday the AP reported that productivity gains may be "bad for workers". More productivity is BAD for workers? Seriously?
What nonsense. Reporters once said automation would kill jobs. Then they say computers would kill jobs. They did take jobs from secretaries. But total employment kept rising.
The AP reporter said "as long as companies can get their workers to produce more, they have little reason to hire."
When workers are more productive, profit margins rise. That gives companies even MORE reason to hire.
From 1993 to to 2002, 309 million jobs were lost. I'd say that was a terrible thing, except during the same period 327 million jobs were created. A net gain of 18 million jobs. That's creative destruction.
The mindset that higher productivity will cost people jobs has led to foolish attacks on progress.
Progress happens when the government stays out of the way. The government's change just makes things worse.
Hat tip: Rixshep,and thanks to therightscoop for the vid.