canal building project

freemen ask the delegation ought to ask you why do you have mended in this canal

using troubles how come you're not using earth movers are bulldozers any member

of the chinese delegation responded of twelfth we would use the big scenes we

wouldn't be able to create as many jobs intrinsic awaits a jobs creation program

i thought you wanted to build the canal if it's jobs you want to take away their

shovels engines

job creation is that a lot of people slipped especially politicians i would

argue that creating new jobs is easy

hits the creation of wealth that's hard

for example we could destroy all farmers sheet that would create millions of new

farm jobs overnight but i don't think anyone think that's the real solutions

to our front the flight data economic progress comes not so much what we

create jobs that using who would destroy jobs that we no longer

a hundred years ago over forty percent of the population was involved in and

cultural jobs once were

today that's under two percent that agricultural output has grown thanks to

mechanization and the invention of all kinds of pharmacy

i happen to those old agricultural jobs

as mechanization is made farm products cheaper people had to spend lots of

their money and food and are able to spend their money up other kinds of

things the story isn't progress has been our ability to eliminate viacom icing on

the sketches resource involved

in order to make the things that uh... of course new innovations don't happen

on what's gonna happen gradually over time all technological innovation means

that workers have to learn new skills and some are likely to be unemployed for

some period of time

and while that unemployment is bad the alternatives our work

these labor transitions are the price we pay for economic progress to prevent

them would be the whole growth innovation and reduction um... job

destruction also sing with him

but we need options

new jobs income often have replaced the old jobs that were once again

of course the twentieth century we've gone from the nation's farm jobs from

industrial jobs service jobs

and market signals can indicate the people what sorts of skills they should

be investing in and where the new jobs in the future governments do not have

the same

in fact

many government jobs programs are really about meeting the needs of politicians

not the needs of consumers marketplace governments are going to creating work

but they're not good extreme value generating joke

it is valuable jobs you want need people like bill gates received doctors who

know how to create value and generate meaningful job

the best job creation program history

is the free market and the entrepreneurship the gym