The Long Boom assumes that the market will somehow automatically take care of those who lose out because of advances in technology. And, as Peter [Schwartz] acknowledges, there will be losers. While those with relevant skills benefit enormously, the punishment for a lack of skills is brutal. Willy-nilly, technology creates winners and losers in a vivid and remarkable way. Yet I see no sign that the market, in its normal unfolding, is going to do anything except exacerbate the problems of the losers.
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