There were huge disruptions in the way people earned their livings with the mechanization of agriculture and with the introduction of assembly line manufacturing. Anyone who didn’t think similar things would happen with similarly disruptive technologies like the personal computer and the Internet simply couldn’t combine a basic knowledge of history with the least bit of forward-thinking.
The question is, do we give up and give everyone protected union or government jobs and go broke a la Europe, or do we figure out how to become individually productive again in new ways?
Smoots-Hawley Protectionism and/or Neo-Luddism aren’t the answer.
I don't think I was talking about either. In fact, I was talking about removing a trade subsidy: guaranteed safe conduct of overseas operations and transport at the expense of the American taxpayer.
The question is, do we give up and give everyone protected union or government jobs and go broke a la Europe, or do we figure out how to become individually productive again in new ways?
I believe a money system based upon validated productivity of land is one possible answer.