Posted on 08/04/2017 1:26:21 PM PDT by aquila48
I made a small note in a previous article about how we shouldn’t worry about technology that displaces human workers:
The lamenters don’t seem to understand that increased productivity in one industry frees up resources and laborers for other industries, and, since increased productivity means increased real wages, demand for goods and services will increase as well. They seem to have a nonsensical apocalyptic view of a fully automated future with piles and piles of valuable goods everywhere, but nobody can enjoy them because nobody has a job. I invite the worriers to check out simple supply and demand analysis and Say’s Law. Say’s Law of markets is a particularly potent antidote to worries about automation, displaced workers, and the so-called “economic singularity.” Jean-Baptiste Say explained how over-production is never a problem for a market economy. This is because all acts of production result in the producer having an increased ability to purchase other goods. In other words, supplying goods on the market allows you to demand goods on the market.
Say’s Law, Rightly Understood
J.B. Say’s Law is often inappropriately summarized as “supply creates its own demand,” a product of Keynes having “badly vulgarized and distorted the law.”
Professor Bylund has recently set the record straight regarding the various summaries and interpretations of Say’s Law.
Bylund lists the proper definitions:
Say’s Law:
Production precedes consumption.
Demand is constituted by supply.
One’s demand for products in the market is limited by one’s supply.
Production is undertaken to facilitate consumption.
Your supply to satisfy the wants of others makes up your demand for for others’ production.
There can be no general over-production (glut) in the market.
NOT Say’s Law:
Production creates its own demand.
Aggregate supply is (always) equal to aggregate demand. The economy is always at full employment.
...
(Excerpt) Read more at mises.org ...
There’s a huge field of tech support out there to fix/program these things.
My money says Democrats and thier donors own large stock in these robitics companies.....
“but nobody can enjoy them because nobody has a job”
If nobody has a job, nobody buys the products produced by the robots and the robots stop producing things and everybody is dead.
Ridiculous. Robots will displace many workers, but not all. The world does not end. Doomsday sayers are out of a job, and finally shut their mouths.
When the hell will there ever be mechanized crop harvesting to end the cry from Rinos, Chamber, and the Left that we need mass immigration of Mexico slave labor?
There’s a huge field of tech support out there to fix/program these things.
More immigrants required. Our government run schools only are teaching gender and climate change. No math no troubleshooting skills no critical thinking.
True.
In the real world government can overturn Say’s Law with their own law.
At least for long enough to cause great misery.
And that’s the cause of ‘automation anxiety’: peoples’ assumption that government policy will make it a misery instead of a blessing.
I’ll worry about the problem of mass unemployment when I can get a remodel on my house done without taking a bank loan, when I can get gardening and my house cleaned at $10/hour, when I can get my car fixed at less than $100/hr, when there are so many humans looking for work that I no longer have to put up with voice mail hell.
It’s very easy to get rid of unemployment - get rid of 90% of welfare, section 8, food stamps, minimum wage, fake disability, and unemployment will become non existing, robots or not.
Robots today are in manufacturing. I think it’d be a while before one shows up at your door in a driver-less car to do housecleaning or repairs.
Of course. Consider the widespreat unemployment of blacksmiths and stablehands in the era of motorozed vehicles, and everything it takes to keep them fueld up and running down the road. Or the family farm of our grandafther’s time.
If already exists for some crops, and has for quite some time. But farmers could get the job done cheaper with illegals. So our lettuce was cheaper, but taxes higher to pay illegals welfare. When that cheap labor is not available, the farmers will get the mechanical harvesters or find legal workers at a price they are willing to work for.
Please give me a real world example of an industry that will NOT BE AFFECTED by technology?
The problem with what you are saying is it’s assuming humans into the equation.
As technology becomes more advance, less and less people are needed.
Automation and A.I. will decimate the middle class and create a large welfare class.
There was a debate on this a while back and the CEO of Sun Microsystems wrote about it. This is the article that woke me up.
Please read this.
https://www.wired.com/2000/04/joy-2/
And the manufacture of buggy whips, don’t forget that.
If robots displace manual laborers, what’s to become of those workers who lack the intelligence and ambition to master the skills needed for those high tech jobs?
Was just being rhetorical.
Fewer and fewer people.People are not a pile of sand or a bucket of water. Fewer people or less humanity, except, of course, in public school.
All this alarmism we’ve been hearing lately about robots taking all our jobs, is nothing more than the left taking a page from their scaremongering playbook on global warming.
As we know, the purpose of the global warming alarmism is to scare people into giving the government (leftists) the power to control people’s lives through control of their energy usage.
The purpose of the “here come the robots” alarmism is to push people into approving another one of the left’s wet dream - Guaranteed Income (and as a subset of that, single payer healthcare).
So whenever you see a story about robots taking over, think, “Guaranteed Income”!
“Ridiculous. Robots will displace many workers, but not all.”
( Robots can replace all jobs that merely require physical effort)
The world does not end.
“Doomsday sayers are out of a job, and finally shut their mouths.”
Doomsday sayers(Strong backs and Arms folks) are out of a job and eventually spend their savings and their mouths are shut by starvation
If your job. Can be done by a human built robot
Get a new job
I’m an electrician
Tell me when you have a bit that can
1- run conduit and wire in an attic
2 - take a system apart to find a short
Or even.
3- mount a subpanel to a wall run wires to it and wire it
And then pass inspection
Bwa ha ha ha ha
I love the face book losers who are scared
“As technology becomes more advance, less and less people are needed.”
Just before the turn of last century something like 80-90% of the people worked on farms.
With the advent of technology most of the labor of those people was transferred to machines. Today only something like 4% of the people work on farms.
So, what are those ~80% that no longer work on farms doing now?
See my post #17 for the real reason behind this concocted alarmism.
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