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NEIN | what you describe is real growth. That is changes in technology that make us more efficient in the long run. Of course in the short run they displace workers and cause a temporary set back but in the long run they lead to better or more efficient use of resources and a better or increasing standard of living.That is the result of the real progress of mankind, from greater knowledge. You are correct though, the cause and effect is not really understood by most and the blame/credit is rarely applied correctly. | |
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Deflation
