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Referencing Styles : Harvard
Where are the buggy whip manufacturers? The most famous case is the advent of automated looms in the early 19th century which threw skilled weavers out of work (see Ned Lud.) Workers are always upset when their jobs are eliminated (see Luddites.) Economists point out (as your textbook does) that in every case, jobs that have been eliminated are soon replaced with new jobs, even better jobs. There are also lots of less attractive jobs created as well, but the effect has always been a net increase ...

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Tags: United Kingdom Surrey Management Management Others University of London Masters in Business Administration 


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