February 10, 2016
OUR GRANDCHILDREN WILL WONDER THAT WE DID ANY LABOR AT ALL:
Don't tell Bernie Sanders, but capitalism has made human life fantastically better. Here's how (James Pethokoukis, February 9, 2016, AEIdeas)
Yes, workers in advanced economies today are many multiples wealthier -- almost incalculably so -- than their counterparts in the early 19th century. But here is another way of looking at, thanks to a new study by consultancy Deloitte showing how technology-driving innovation has radically altered lives in Britain for the much better: [...]2) It has been saving us from dull, repetitive, and dangerous work. Agriculture was the first major sector to experience this change. In 1871 it employed 6.6% of the workforce of England and Wales. Today that stands at 0.2%, a 95% decline.
Posted by Orrin Judd at February 10, 2016 4:11 PM