CriticalMASS Top 10 Reads of the Week – June 24, 2011

Obama vs. ATMs: Why Technology Doesn’t Destroy Jobs – Russell Roberts (Wall Street Journal)

The story goes that Milton Friedman was once taken to see a massive government project somewhere in Asia. Thousands of workers using shovels were building a canal. Friedman was puzzled. Why weren’t there any excavators or any mechanized earth-moving equipment? A government official explained that using shovels created more jobs. Friedman’s response: “Then why not use spoons instead of shovels?”

That story came to mind last week when President Obama linked technology to job losses. “There are some structural issues with our economy where a lot of businesses have learned to become much more efficient with a lot fewer workers,” he said. “You see it when you go to a bank and you use an ATM, you don’t go to a bank teller, or you go to the airport and you’re using a kiosk instead of checking in at the gate.”… Read the Rest

PLUS:

Zuckerman on why the jobs situation is worse than you think;

Hemingway on the Democrats’ Culture of Corruption (National edition!);

Goldberg on Libya

and more, including The Funniest Thing I Saw This Week

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