So for 200 year rapid productivity growth didn’t cause any serious unemployment problems in America, but now, right after NGDP collapses, we are to believe it is producing mass unemployment, even though recent productivity gains have been rather low. I’m at a loss for words. We elected a Luddite as President of the United States.
As as been pointed out, it\’s not what you don\’t know that is so that\’s dangerous, it\’s what you know that ain\’t so.
This applies more generally than just to American Presidents.