The growth of industry disrupted old economic patterns but produced undreamed-of wealth.
Amid all the pessimism and calls for government protection, it’s important to remember that our only window into the future is the past. From the colossal changes wrought by the Industrial Revolution to the Digital Revolution of the last quarter-century, improvements in technology have created an array of jobs that far exceeded—in quantity and quality—the ones eliminated, elevating standards of living. History offers cautionary tales of how special interests and public fear can spawn government policies that delay progress and raise the cost of the transition.