>> Though the “creative destruction” process works hardships on some people who lose their jobs and are forced to take lower-paying jobs, any attempt to impede the process would make all of us worse off.
Overall, automation is a GOOD thing. Very few people want to spend 8 hours a day doing the same repetitive task.
But from the standpoint of an individual person whose job is lost to automation, it’s a bad thing.
So, do we resist automation out of compassion for that individual who is losing his job? No. If we did that, we’d still be propping up buggy whip factories.
The guy who loses his job has a number of options: Retire. Retrain. Move to a place where his job exists but isn’t automated. Take a different job. Go on welfare. Did I miss some?
You missed one. Become a Wal-Mart greeter and let your wife bring home the bacon.