Very painful for the people who have lost their jobs but their jobs were based on both an expanding economy and an economy where people buy what they want rather than what they need. Lots of easy credit was needed to put money into peoples hands which further increased the cost of goods. The ludites are proving to have been correct. Capital with less and less people involved is producing more and more goods leaving less and less people with less and less money to buy these goods. It is very seductive to produce goods more cheaply so that more people can buy them but you somehow have to make sure people have the money to buy the goods. Henry Ford had part of the answer. What is left in order to keep money circulating is more and more people having to be in the service industry where no physical thing is sold but rather a service. People servicing each other. In the final analysis we need less people so that many of our needs such as clean water, clean air, green spaces etc. come to us for free. These will be less and less available as we crowd out our environment and as we have les money to afford them. Did you see the winner of the Oscars. On our present course there is our future.