3 ms·
You're missing a key component of economics. You are saying suddenly widgets can be made for less then previously by automation. If there was a monopoly seller
by dinkumthinkum 11y ago
You're missing a key component of economics. You are saying suddenly widgets can be made for less then previously by automation. If there was a monopoly seller of widgets, your argument makes sense but if there is competition, prices will be driven down, or some other effect will occur.