These two waves of automation are fundamentally different and shouldn’t be compared.

We got lucky that when farming was being mechanized, it happened slowly and while manufacturing was still growing and could soak up the labor. When manufacturing was offshored/automated, we got less lucky and a lot of people faced a massive drop in quality of life as they lost their high paying jobs and couldn’t find equivalent ones in the service sector.

Now we’re seeing a potential massive job displacement, the force doing the displacing can likely also do many of the new jobs that may arise, and the change is happening faster than any ever before.

Capitalism doesn’t promise to create new jobs when old ones are automated, we’ve just gotten lucky in the past, and our luck has run out.