U.S. manufacturing is going through the same kind of labor-saving technological innovation as agriculture. In 1790, farmers were 90 percent of the U.S. labor force. By 1900, only about 41 percent of our labor force was employed in agriculture. By 2008, less than 3 percent of Americans were employed in agriculture. What would you have had Congress do in the face of this precipitous loss of agricultural jobs? Should Congress have outlawed all of the technological advances and machinery that cost millions of agricultural jobs and made our farmers the world's most productive? Also, had Congress done something to save those agricultural jobs, where would we have gotten the workers to produce the millions of things we enjoy that weren't even around in 1790? We would have been poorer.
Let's not stop with agriculture. In 1970, the telecommunications industry employed 421,000 workers, in good-paying jobs as switchboard operators, handling 9.8 billion long-distance calls yearly. Today, the telecommunications industry employs fewer than 60,000 operators, and they handle more than 100 billion long-distance calls yearly. That's an 85 percent job loss. The spectacular advances in telecommunications, which raised productivity, made the cost of long-distance calls a tiny fraction of what they were.
What we're witnessing in many of our industries is what economic historian Joseph Schumpeter called "creative destruction." The adjustment to it can be painful, but to stand in its way will make us a poorer nation.
Walter E. Williams
Dr. Williams serves on the faculty of George Mason University as John M. Olin Distinguished Professor of Economics and is the author of 'Race and Economics: How Much Can Be Blamed on Discrimination?' and 'Up from the Projects: An Autobiography.'
TOWNHALL DAILY: Be the first to read Walter Williams' column.
Sign up today and receive Townhall.com daily lineup delivered each morning to your inbox.