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nz 4 hours ago

An interesting economic fact: Karl Marx observed that if factories keep getting more efficient, eventually, they will require fewer workers because the population is not growing quickly enough to match the increasing rate of production. This, as we have seen historically, is correct: we have fewer workers per factory and fewer factories per manufactured widget. Marx also observed that this will create mass unemployment. While this is _logically_ correct, it did not really turn out that way _historically_. Most of the manufacturing labor was replaced with bureaucratic labor (so called white-collar labor) -- all of those manufacturing firms needed to grow their internal bureaucracies to manage and direct a sprawling supply-chain.