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> Some low-wage work would be reallocated ... Since poor people are now making more money, there will be opportunities to sell them things — things like restaur
by curiousgeorgio 11y ago
> Some low-wage work would be reallocated ... Since poor people are now making more money, there will be opportunities to sell them things — things like restaurant meals! — that they couldn't previously afford, which in turn creates demand for new jobs.
Even if the poor people were making more money, the rest of the logic here is equally as flawed; somehow by firing people and replacing them with machines, those people will spend more money, and that will create the same jobs for which they were replaced by machines. Kind of a new twist on circular logic where each point in the circle is also a logical fallacy.