>And then those companies invent things that make more jobs obsolete, causing unemployment to remain high.
I would say this one is incorrect. It isn't so simple as that. Inventing new tech often creates new jobs. As an example look at the different medical imaging technologies created over the years: x-ray, ultrasound, CAT scan, MRI, etc. Each added to the number of medical imaging jobs it didn't obsolete anyone.
I would say this one is incorrect. It isn't so simple as that. Inventing new tech often creates new jobs. As an example look at the different medical imaging technologies created over the years: x-ray, ultrasound, CAT scan, MRI, etc. Each added to the number of medical imaging jobs it didn't obsolete anyone.