The following is part of an exchange with my dad in 2006 in response to a friend of his asserting that modern efficiency and productivity were destroying jobs.
IS THE PROBLEM PRODUCTIVITY OR CORRUPTION? – 2006
I prefer to live my current lifestyle rather than hunting and gathering, plowing rocky farms with oxen, or even working in a slightly modern way but waiting three days for mail, using an old adding machine instead of a spreadsheet, and having a secretary type perfectly with no mistakes rather than just writing on my own and have the spell checker fix it.
Productivity is great news for us all really. As for unproductive companies folding, that’s the real beauty of capitalism. The lost jobs will be replaced by profitable efficient companies, creating greater wealth for our society as a whole.
Your friend’s misunderstanding is the same as that of most politicians in thinking that large corporations actually matter much. They only matter in that they can corrupt political and economic systems terribly and partner with governments to the distort markets in uncompetitive ways.
But the economy is dominated by small business, the real engine of growth and prosperity in our society.
If we could keep the government and the large corporations under control, we could really have a prosperous society.