President Obama on his midwestern bus tour pinpointed one of the main causes for unemployment- the internet.

Obama: One of the challenges in terms of rebuilding our economy is – businesses have gotten so efficient, that, when was the last time somebody went to a bank teller? Instead of using an ATM. Or, used a travel agent instead of going online. A lot of jobs out that that used to require people now have become automated.

 

That’s right, businesses have become very efficient as a result of the internet and many jobs have disappeared as a result.  At the same time millions of jobs have been created in the technology sector resulting in wealth creation that would have been impossible without it. If only Obama could turn back the clock…

 

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