The innovative new products from creative destruction benefit the
consumer, but the benefits to the consumer must be weighed against the
costs to labor in terms of technological unemployment. The first section
examines the magnitude and duration of unemployment from creative
destruction. The second section examines whether the new jobs created are
generally better or worse (in terms of worker satisfaction and other
criteria), than the old jobs destroyed. The third section examines
policies that labor, or the government, might adopt that would reduce the
costs, and increase the benefits, to labor of the process of creative
destruction.