Your point is actually a good chunk of what I was trying to get across. Not everyone is better off right away after innovation or trade. The quote you’ve picked out was where I was trying to explain how the users of health care who are not in the health care profession will have a lot more money to spend and that spending will create new products and opportunities. Some of those new products and opportunities will help those out of a job in the health care sector. But certainly not every one of them, which was my actual point. I’ve edited it to take your point into account. Thanks.

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I host the weekly podcast, EconTalk and I'm the co-creator of the Keynes-Hayek rap videos. My latest book is How Adam Smith Can Change Your Life.

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