I'm frustrated by naive capitalists' failure to understand externalities.
On the other side, I'm frustrated by people failing to understand that technological progress creates new jobs in the process of destroying old ones, and that this is a net good, even though the people losing their jobs are the most visible. I suppose that's closely related to your "seen vs unseen" idea. Related: Jevon's paradox.
On the other side, I'm frustrated by people failing to understand that technological progress creates new jobs in the process of destroying old ones, and that this is a net good, even though the people losing their jobs are the most visible.
Is this thing still considered obvious these days? The problem with it is that the new jobs that still need people to do them are getting more difficult. We seem to have actually viable self-driving cars now, which hints that just needing to do hand-eye coordination in diverse environments no longer guarantees that a...
Today's post, Traditional Capitalist Values was originally published on 17 October 2008. A summary (taken from the LW wiki):
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