Earlier quoted context omitted.
Spot on. Nearly all of the articles I've seen of late that tackle this theme reduce to "but how can all of the X's that are now unemployed find work if the economy will never again need X's". Its a simple failure of imagination. When 50% of the people were farmers, not many of them could imagine being airline pilots. A combine harvester must have seemed like a fearsome thing indeed.
The problem isn't that there aren't new jobs being created, it's that almost none of them can be done by the people who were displaced. You lay off 10,000 factory workers. Do you think they can ever be airline pilots? Or programmers? Or financial analysts? Or what-have-yous? Sure, a small (very small) percentage of these folk will successfully retrain into another field, but the vast majority of them will be left beh…
Sure education is expensiv but self education is not!