Accomplished_Box_907 t1_j1gr9ym wrote
So I'm no economist, and someone tell me if they disagree and why. But hasnt every technological advancement "Taken jobs"? Like imagine youre in a tribe and and you invented the cart! Now it only requires one person to bring back a deer instead of 5. Does that mean 4 lost jobs? Or does that mean they move on to something else? Heres my theory about how it works. Pretend for simplicity that every artist is now out of a job, they will have to look for more work right? So they flood the job market, moving into whatever matches their other skills, meaning now companies can pay employees less, effectively able to hire the more employees for the same amount of money. You know what that means? More product. More product equals cheaper price for said product. Wouldnt this have a small deflationary effect? Not only that, but the tribe hypothetical could also explain exponential advancement, because guess what the 4 tribesman without jobs can do? Now they might have time to build mud huts instead of tents, and so on and so forth.
Tell me if this does not make sense and i will reiterate.
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