Obama and the automation myth

According to President Obama, his Administration's anti-free-market, anti-business, and pro-union policies are not to blame for the high rate of involuntary unemployment.  No, instead we are to believe a root cause of that problem is too much automation.  In an interview on NBC News in response to a question about companies' reluctance to hire, President Obama said:  "...There are some structural issues with our economy where a lot of businesses have learned to become much more efficient with a lot fewer workers. You see it when you go to a bank and you use an ATM, you don't go to a bank teller, or you go to the airport and you're using a kiosk instead of checking in at the gate. So all these things have created changes..." As a country, we are paying a tremendous price for the economic ignorance of this president and his ilk. Even basic economic principles, Econ 101 level stuff, apparently elude them. The "automation myth" -- the belief that increased productivity,...(Read Full Post)