[forapurpose]

I think that's an essential point, and though it's basic economics, it's often overlooked (and rarely made here). I'd take it a step further and say the grand project of building a better society (more freedom and economic opportunity) also is overlooked.

However, while automation helps in the aggregate, the world isn't lived or experienced in the aggregate but on the individual level. Put Jeff Bezos and 9 people living without shelter or money in a room, and in aggregate their average wealth is $15 billion per person; but that number tells you nothing about the individuals. When the factory closes due to technological advancement, sometimes those individuals can't get another job or one that pays nearly as much.

So we need to both encourage technological advances that increase productivity, but make sure it benefits individuals. I think the basic principle is that capital can move much more quickly than people - e.g., you can pull the money out of a factory in Kokkata or Indianapolis and invest bit in one in Hanoi much more quickly than the workers can move to Hanoi (probably impossible) or find another job anywhere. The answer may be much better unemployment insurance, retraining, and laws slowing economic changes enough that individuals can keep up, to a degree based on the economic impact: e.g., closing a big factory in a small town is higher impact than closing a startup in London.