America’s Dazzling Tech Boom Has a Downside: Not Enough Jobs
For all of human history, people have had to deal with a scarcity of resources. Yet in the last few years, that has changed. Our problem is not that we can&#x27;t make enough stuff for everyone to be happy, it&#x27;s that we&#x27;re still acting like that is the case.<p>The age of inflation is over because producers in nearly every industry (there are a few notable exceptions) can absorb almost infinite demand for their products. The sooner governments and central banks accept this, and the sooner we move past the notion that a &quot;job&quot; is not an end but a means to an end, the sooner we can end poverty, achieve high levels of growth, and overcome our fear of globalization and technology.