Wealth of Humans

Source:  American Enterprise Institute, Sep 2016

Finally, if you’re wrong, why do you think you will have been wrong?

That’s a good question. Why will I have been wrong? Well, I think the –

I realize this is a question that in no way has entered your mind previously, that there’s any way this thesis might not pan out, but humor me if possible.

I mean, I think the answer has to be that technology has evolved in a way that turned out to be surprisingly complementary to people with modest skill levels, so instead of displacing them, it actually made them much more productive. Now, I – and maybe it’s a problem with my imagination. I’m not – it’s not clear to me how that would work. But it’s certainly a possibility.

But I think that’s what it boils down to, that more – that ultimately technology worked with people to a much greater extent than it worked against them. I just don’t see it working out like that. But I could be wrong. I’d love to be wrong.

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