Obama says businesses are doing more with less thanks to the internet, and that why unemployment is so high!
This reveals either a high level of economic ignorance on his part or a belief that Americans as a whole are that ignorant. If this were true the automobile and the increased mobility and productivity it provided would have destroyed the American economy by reducing employment of farriers, bridle and whip makers, and feed store workers and left us unable to defend ourselves in WW2.
Increased productivity means increased wealth for all and increased employment, unless government screws it up with over regulation and/or misapplication of resources. The only segment that benefits from over-regulation is government workers, many of whom pay dues to Democrat controlled labor unions
There are many historical examples of governments trying to legislate prosperity in direct conflict with the most basic rules of economics. At one point Australia made it illegal for traveling salespeople to drive themselves by requiring them to hire a driver instead. Employment would surely be increased! The actual effect was to increase the price of what they sold, so they sold less and in many cases could no longer make a living as traveling salespeople.
But government ignorance sometimes even extends to basic laws of physics! A bill was once introduced in the Arkansas legislature to "simplify calculations" by legally defining the constant pi to be 3.00 instead of its actual value!
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