Wednesday, June 15, 2011

ATM's, jobs, and Luddites

When President Obama blamed the slow recovery in jobs on the invention of automatic teller machines, it reminded me of Frederick Bastiat's satiric argument that government should forbid the usage of everyone's right hand, because the resulting drop in productivity would mean more work, and more employment.

If that doesn't work, perhaps we should outlaw competition from the sun, to encourage candle makers to hire more employees.

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