It is more incumbent on me to declare my opinion on this question, because they have, on further reflection, undergone a considerable change; and although I am not aware that I have ever published any thing respecting machinery which it is necessary for me to retract, yet I have in other ways given my support to doctrines which I now think erroneous; it, therefore, becomes a duty in me to submit my present views to examination, with my reasons for entertaining them.
-- Ricardo, publicly saying "oops" in his restrained Victorian fashion, in his essay "On Machinery".
I was actually just reading that yesterday because of Cowen linking it in http://marginalrevolution.com/marginalrevolution/2013/01/the-ricardo-effect-in-europe-germany-fact-of-the-day.html
I'm not entirely sure I understand Ricardo's chapter (Victorian economists being hard to read both because of the style and distance), or why, if it's as clear as Ricardo seems to think, no-one ever seems to mention the point in discussions of technological unemployment (and instead, constantly harping on comparative advantage etc). What did you make of it?
Happy New Year! Here's the latest and greatest installment of rationality quotes. Remember: