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Article posted Feb 08 2013, 3:52 AM Category: Economy Source: YouTube Print

Peter Schiff on Huff Post Live

Automation: Destroying Jobs or Creating Productivity?

Peter Schiff debates crazy socialists who think technological advancement hurts the economy.

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Comments 1 - 5 of 5 Add Comment Page 1 of 1

Posted: Feb 08 2013, 11:22 AM

136200 i dont see products getting cheaper, what a crock. I could buy more procuct with my allowance as a child, than i could now working as an adult working for min wage.

Posted: Feb 08 2013, 11:53 AM

136200 i.e as a child i could work 1 hour and earn 3 dollars, that same 3 dollars would buy 6 gallons of fuel for my minibike. today, as an adult at min wage, one hour of work may buy 3 gallons. I dont things are getting better with tech.

Posted: Feb 08 2013, 11:55 AM

7585 Schiff is a idiot on many issues, this being one of them.

One of the few middle class jobs in America that are still available are factory based, especially with the rise of online retail and demise of big box. These jobs will dissappear and contrary to Schiff's magical world where every job lost is replaced by a shiny new job, that's not how the real world works.

The middle class is already on it's last gasps in large part due to the rise of technology as well as having to compete with the ever expanding global market. This fantasy land where Schiff lives that all tech advances better society with cheaper products doesn't work so well for those who have no job to buy said products.

I will say for someone in Schiff's position, someone who doesn't have to worry about working a middle class level job to put food on the table, tech advances that kill off jobs for the middle class is great. Like he said, he's gonna pay a little less for his next ipad. Isn't tech grand?

Posted: Feb 08 2013, 5:20 PM

67177 The population is truly dumbin down, poor Schiff. Why even have to work if no one has to anymore, becase of the advancement of technology? We could all be liberated. He's right that a job is the means to an end. The more technology, th less mean and more end!

Posted: Feb 13 2013, 2:50 PM

1214 Yes the population is dumbing down. To the people that say tech doesn't drive down prices and liberate us.

We don't work to just work we work to buy stuff we want and save enough up to not have to work. The more productive we become the less we have to work in order to obtian the stuff we want. The price increases the comments below are a result of our currency becoming devalued and production not keeping up. In the industrial revolution prices were coming down because we had gold and silver backed currency so it was stable as we became more productive the prices fell.

Most socialist and communist hate gold and silver and try to say we had long depressions during the industrial revolution when we were becoming the richest nation on the planet. Only reason because GDP dropped some years. (well if prices our falling the GDP will also drop). I find it hard to believe we had constant depressions in the midst of the industrial revolution.
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