Note first that many of the service industries which have been among the heaviest investors in new technology stand at an intermediate position in the supply chain.

ECONOMIST: Performing miracles | The

But such a state of general unemployment is something rather exceptional, and it is by no means evident that a policy which will be beneficial in such a state will also always and necessarily be so in the kind of intermediate position in which an economic system finds itself most of the time, when significant unemployment is confined to certain industries, occupations, or localities.

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