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URL:  https://boards.fool.com/the-problem-is-that-were-destroying-more-than-28509883.aspx

Subject:  Re: Creative Destruction is a myth Date:  5/13/2010  3:57 PM
Author:  AOLFoolman100 Number:  327791 of 600683

The problem is that we're destroying more than we're creating. And that trend only increases with time. It's the natural by-product of a competitive capitalist society that rewards businesses for producing more with fewer people. As businesses become ever more productive, it takes fewer and fewer workers to meet consumer demands.



Let's see, the Pony Express died out, manual farmers mostly died out, the steam locomotive died out, horse carriages died out.....this has occurred for decade after decades after decade. One outmoded industry after another, one outdated product after another....

Wow, the unemployment rate must have started in 1900 century at 0.0001%, and certainly must now in 2010 have grown to 99.99%. Correct?

Yet, for over 100 years, unemployment continues to fluctuate constantly between 4% to 12% for the most part.

How does this happen?
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