Only when the credit bubble burst – triggering an abrupt adjustment, rather than the gradual adaptation of skills and human capital that would have occurred in more normal times – did millions of workers suddenly find themselves unemployed. The implication is that the economic logic equating automation with increased productivity has not been invalidated; its proof has merely been delayed.
一个解释是，在危机前的几年中，就业因为信用刺激的需求而得到了支持。直到信用泡沫破裂——并引发了剧烈的调整而不是正常情况下的技能和人力资本逐渐调整——数百万工人突然发现自己丢掉了工作。其影响是自动化等于生产率提高的经济逻辑并没有失效；只是证明时间延迟了。