The Economy: More Output = More Jobs


Automation entered the language during a conference of Ford Motor Co. engineers in 1946—and it has been influencing society ever since. On the one hand, it has made possible the vast growth and technological advances of the U.S. economy in recent years; on the other, it has been a source of worry and perplexity to millions of people. One of the big worries of labor leaders and economists has been that automation gains might enable a strong economic advance—like the present one—to surge forward without creating any new jobs. Last week...

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