This is a complex issue, and like on most complex issues, there is no simple answer.<p>The general idea that technology deprecates people is true. It is also true that there is an escape valve in new needs, requiring new jobs, that allows for us to shift occupations and remain employed.<p>However, there is no law that states that the escape valve will always work, nor that it can work at high rates of job displacement.<p>Moreover, there are signs of low aggregate demand in developed economies. These signs are appearing now even in developing economies. This means that money is not percolating down into the hands of people, who can&#x27;t then spend and create demand. There is a huge number of factors at play here (see the note about being a complex problem). Higher worker efficiency causing higher unemployment rates is one such factor. It can&#x27;t be dismissed outright.<p>We <i>may</i> be witnessing Marx being right (albeit ahead of its time).