Automation of Jobs Quotes
Technology has always displaced and replaced workers, but most industrial technological breakthroughs, in the long run, have created new jobs and better paid ones. What worried Gompers did not appear to materialize in his lifetime, but actually became and issue on the later years of the 20th century and the early 21st century where the computer the robot, and the sophisticated software began to replace workers at a faster rate than new opportunities were created. Gompers was one of the harbingers of things to come.
Computers, robots have replaced many more American workers than those who lost their jobs by having them replaced by foreign labor. Ironically, even in counties like China, South Korea, and a number of others, have "liost" millions of jobs to automation thenselves.
A startlingly bad prediction by a Nobel-prize winning economist particularly given it was stated in 1998 rather than a much earlier date when the potential of the Internet wasn’t already apparent. Ironically, the quote is from a Red Herring article he wrote titled “Why Most Economists’ Predictions Are Wrong” in which he asserts that most economists predictions are wrong because they overestimate the impact of future technologies. See related quotes for additional equally erroneous Krugman predictions.
