Ricochet is the best place on the internet to discuss the issues of the day, either through commenting on posts or writing your own for our active and dynamic community in a fully moderated environment. In addition, the Ricochet Audio Network offers over 50 original podcasts with new episodes released every day.
Richard Epstein warns of the dangers of Donald Trump’s position on international trade, and considers controversies about trade deficits, the border adjustment tax, and job losses due to automation.
Subscribe to The Libertarian in Apple Podcasts (and leave a 5-star review, please!), or by RSS feed. For all our podcasts in one place, subscribe to the Ricochet Audio Network Superfeed in Apple Podcasts or by RSS feed.
Published in: Economics, Foreign Policy
Richard reminded me of Edward Banfield, who wrote in “The Unheavenly Cities” that the problem of unemployment was not due to automation, but supply and demand. He wrote this in the 70s, about 50 years ago, and I think what he said is still true. Some automation eliminates the skilled as much as the unskilled jobs. Some automation allows lower skilled workers to do the tasks higher skilled workers used to do. We toured the Louisivlle bat company, and they demonstrated how they used to make bats with a lathe and a chisel, then showed us how CNC machines make them now. the wood burning and dipping was still fairly laborious.