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.
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/
I totally agree. Time was when 90% of Americans worked on a farm and I believe that is under 5% now and we are all richer and fatter than ever.
If Mises Institute says it, that’s reason enough to fear that the opposite may be true.
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Politics will cry for neo-luddism, increased welfare, increased taxes, etc.
Plus, robots are very organized. I expect them to soon unionize and then do what unions do best: limit the number of like workers.
On the other hand, most of them will probably vote for Al Gore.
“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.”
This is a classical theory based mostly on the history of the earlier industrial revolution. It is in error with respect to economic history since the 1990s, and particularly since the “technological” revolution with its dawn at that time.
While corporations have been registering regular productivity gains, those gains have not, since 1980, registered any similar growth in wages, or even total compensation. Neither has that productivity growth stimulated an equal level of job creation. Profits yes, wages and jobs, no. Why? Automated devices and automation hardware and software do not get wages, nor are they counted as “job holders”.
Also, the “creation of new jobs”, as was seen during the onset of electrification, telecommunications, autos and commercial aircraft HAS NOT OCCURRED during the technology revolution in a manner of creating more new jobs than jobs lost.
No. This time, the classic view of the affects of ANY MANNER of productivity has not happened with the technological revolution.
Yes it - technology - does create all kinds of new work, and new jobs, but it has been at a much slower pace and volume than the jobs automation and computerization is doing away with.
As robots and expert software increase, the price of goods and services will decline, and the tax collections on the much higher business profits will increase.
Automation will indeed cause much higher unemployment.
But government will provide a basic standard of living for all those without jobs or savings.
It’s hard to advance manufacturing process, increase productivity and the accompany wealth creation to benefit the US economy IF THE FACTORY IS IN CHINA. That benefits our economic enemies.
I miss the days when womenfolk worked all day carrying pots of water on their heads. The invention of irrigation tossed so many water jug employees to the curb.
1) The people who live off investments.
2) The people who live off payments for their work.
3) The people who live off charity from the other two classes.
What automation does is to shift some people in (2) into different occupations. Those who do not find a new occupation, drop down into the underclass(3).
Meanwhile, class (1) is unaffected by automation, except by the need to shift investments from dying fields to rising fields.
We do need to find better ways to engage the average and below average people displaced by automation.
Dr. Jordan Peterson - IQ and The Job Market
https://www.youtube.com/watch?v=fjs2gPa5sD0