The fallacy that labor-saving machines create technological unemployment has not only been disproved by theory but also by the whole history of mankind.
Hard-left "democratic socialists" think they figured out how to make government planning possible: use prices. But there's a problem in their argument: prices are impossible without markets.
Thanks to entrepreneurs, markets are dynamic and constantly expanding. Attempts by governments to manage prices through the bureaucracy are sure to hinder this dynamism and drive to serve customers.
A sober look at the assumptions underlying neoclassical analysis reveals that they are either not realistic or not applicable in economic analyses of the real world.
