Then he writes:
Science and technology provided the basis for the
industrial revolution.
This technical progress has for over last two hundred
years has provided more or less continuous growth in industrial productivity.
Author again notes that, religion may also have an
economic impact on this process, again possibly a negative impact.
This productivity – more output for a given level of
material and labor input – over time has provided improvement in the standard
of living, or an underlying long term increase in average incomes.
This role of technology in the economy was not
anticipated by anyone at the dawn of the industrial era, including the by
classical economist Karl Marx.
The class conflict he predicted was avoided by the
potentially universal economic improvement provided by technology.
The nature of the modern industrial economy is not
inherently immoral or necessarily unreasonably inequitable.
Taxation and welfare benefits can be used to redistribute
income from rich to poor.
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