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My Little Pony: Friendship is Magic Fanfiction
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They call the output of those engines ‘horsepower’ because that’s what they’re designed to replace.
There is just one problem with that way of thinking.
In reality the industrialization/machination does not reduce the number of jobs.
A machine may do the work of dozens of ponies, but how many are needed to invent create and maintain the machines.
Menial labour (which is what the machine replaces) pays little. But the new specialised jobs which now appear require more education and thus offer more pay.