John Maynard Keynes once famously said that the difficulty lies not so much in developing new ideas but in escaping from old ones. And one of the oldest and most pervasive and pernicious economic ideas is that technology kills jobs.
This is brand new technology. The early automobile developed during a period without sufficient roads, training or licensing. They were operated by the chauffeurs of the wealthy or the equivalent of today's geeky hobbyists.
Rule 1. Never use your phone as your alarm clock. We all know how it goes: once you're done dealing your standard wave of 20 snoozes, you flick off the alarm, and go straight to browsing: Instagram, email, videos of baby elephants.
Long tech and short toil will fuel growth tomorrow, but whether we are able to stomach the journey today is far more unclear. The impact of the unfolding clash between technology and toil will be bruising in the shorter term. Its resolution will be critical to the future of economic growth.
Admitting defeat, I was dragged onto Twitter kicking and screaming. I thought it was a necessary evil. And I was wrong. In the past year, I've grown fond of Twitter. It might be partially due to cognitive dissonance. But it's also due to six benefits that no one mentioned.
Rather than see the Tea Party's divisiveness as a sign of politics to come, it may simply be the final spasm of rage for a shrinking cohort of citizens who refuse to accept that our culture no longer resembles the "real America" embedded in their historical imagination.
Is an acceleration in labor-saving technology displacing workers in a historically unique and problematic manner? Most economists say no, because they're all hung up on evidence and history -- imagine that.
The physical book will always remain in some respect, but more as an aesthetic curiosity, and a fine, curated remnant of a prior age. But reading? Whether by candlelight or halogen, that will be done by Kindles, Nooks and iPads.
The Luddites have been slandered. They did not oppose technology per se, but rather asked some important questions about the ends to which new technological discoveries were being used and who in society would benefit from them.