Comment: I'm not sure if you realize

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I'm not sure if you realize

that you are basically defending the classic keynesian short-sighted position which ignores basic capital structure theories. It is the exact same model that would institute protective tariffs on imported goods to save domestic manufacturing jobs from going over seas. Please do not think that I am trying to insult your intelligence friend as I am possibly the single least educated individual on this forum and furthermore we probably agree on most subjects away from this one. But the idea that technology leads to higher unemployment has been debunked by nearly every prominent Austrian Scholar of the last century.

I am not going to take the time to write out an entire chapter on Misesian economic theory. Here is a link to "Human Action". Mises explains it much better than I ever could. Take some time and you'll find his most eloquent explanation.

http://wiki.mises.org/wiki/Human_Action