Education is the job-killer lurking beneath the economy’s surface. Consider an exemplary employer making major investments in training for each of his 100 workers, even covering tuition for those who might benefit from technical courses at a local college. Say the investments have incredible returns, too—by the end of the year, each worker is twice as productive and 50 can do the work that last year required 100. That means 50 jobs have been destroyed.
Does that sound nonsensical? It should. Yet change “education” to “automation” or “technology” and you have the conventional wisdom that countless economists and politicians are […]
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