re: #116 Fozzie Bear

Explain to me how less workers can produce more product, without increasing consumption or increasing unemployment. (Apart from reducing wages, or accumulating debt.)

it’s not about less workers producing more output.
it’s higher output per worker.
if workers are replaced by machines, say, then jobs will be created in the companies that make those machines. there will be demand for workers in new industries that spring up in response to changes in productivity in another industry.

the labour market is going to be stronger if productivity is higher. there will be higher demand for workers overall (but less in the industries with new technologies).
even if jobs are outsourced to other countries, the workers in those countries who have higher incomes are going to spend more on what we produce.