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Economist says technology good for American dream

Posted at 6:08 PM, Mar 24, 2019
and last updated 2019-07-17 14:49:44-04

BILLINGS – The age of smart machines and technology is something that should be embraced and will not completely replace jobs that make it possible to attain the American Dream.

That was part of the message at the Big Sky Worldview Forum on Friday and Saturday.

Dr. Jay Richardson, a fellow at the Catholic University of America, spoke at the Big Horn Resort.

He addressed Neo-marxism, the free market and the future of America.

Richardson said new technology has replaced older industries and that can be good.

As an example, he said everyone benefited when the automobile replaced the horse and buggy.

“It’s at the junctions of these two things that the dilemma takes place,” Richardson said. “But you wouldn’t want an economy that refused innovation and never allowed anyone to invent anything. We’d all, in the long run, be much worse off for that. So my argument is that I think is let’s accept the creative destruction of the market and find ways to enhance the creativity and minimize the effects of the destruction.”

Richardson said more inventions create more jobs and the best system for that includes private property rights, rule of law, functioning regulation and courts and economic freedom to make choices.