Technical innovation increases the productivity of labor in industry. If production shouldn’t be wasteful, there needs to be a reduction in workers. Where do all these workers go if there’s no unemployment? In a capitalist economy the workers are left to die on the streets but in a socialist economy they need to get a job again, right? Does the state take the burden of cost of reeducating these workers to enter another field and factor this into calculations when introducing new technology?
uh well more people with education and free time, with subsidies of science = lotsa innovation
a highly simplified version but yeah