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Human Events...
ATM a tool of
prosperity
John Hayward, Staff Writer
06.16.11
Earlier this week, President Obama attempted to blame high unemployment
on automation, specifically the rising popularity of ATMs and airline
ticketing kiosks. The idea is that such machines wipe out jobs by
making human bank tellers and ticket counter attendants obsolete.
In reality, such machines are among the tools that help us realize a
level of wealth beyond the dreams of our forefathers. Enhanced
productivity does not destroy jobs. It creates them, as new
markets are opened, new occupations appear, and society gains more
wealth to spend. Someone must build, program, install, and
maintain the ATMs. People find better things to do with the time
they used to spend standing in line at banks.
What is prosperity, and what drives its creation?
Prosperity is not simply a matter of full employment, or the basic
needs of all citizens being met. Full employment can be
accomplished through slavery. Basic resources can be distributed
through authoritarian power. Neither of those systems produces a
“prosperous” environment for most of the people trapped in them.
Prosperity is not measured only in luxury, or free time. It
requires liberty, but freedom is not enough by itself, as you can see
from the simple life of a solitary loner living in the
wilderness. What brings liberty and productivity together,
creating jobs and improving the value of our lives? What is the
fountain of prosperity? The answer helps to understand why ATMs
do not destroy jobs, and why you should be cautious about accepting an
offer to live in a society where everyone has a job, but no one is
filthy rich.
— John Hayward
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