About Job Destruction's Genius, 'This Time' Is Never Different

Between Austin and Huntsville, which Texas town attracts more investment? There’s really no mystery to this question, but it might surprise some readers that job destruction is not as evident in Huntsville, the poorest city in Texas.

The simple truth is that wealth is greatest where jobs are being destroyed the fastest. Think about it. What is investment but the commitment of capital to individuals and businesses who aim to develop advances that facilitate the production of more and more goods and services with less and less human effort. Technology by its very name is job destruction. Austin is a magnet for capital precisely because it’s populated by those feverishly trying to invent a different future that will logically be defined by work that will little resemble the toil of the present.


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