Monday, March 9, 2015

Zach Newton, Chapter 6, Question 5

The questions raised in this chapter are very controversial in the United States today. Everyone in politics wants there to be more jobs because it gets the votes of many people who want more or better jobs. This leads to politicians making decisions based on short run job number instead of long run economic growth. "Technology displaces workers in the short run but does not lead to mass unemployment in the long run" (Wheelan 134). As creative destruction poses a threat to current jobs and certain products, people oppose this productive and positive change in order to remain secure. What this chapter says is that these changes should be embraced because whatever short term negative aspects come to be are overturned by the long run outcomes.

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