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As I understand it destroying/preventing automation is an example of the broken window fallacy. The problem is not automation, but rather the system that punish
by vorotato 10y ago
As I understand it destroying/preventing automation is an example of the broken window fallacy. The problem is not automation, but rather the system that punishes a worker for being displaced for the sake of efficiency. The economy would be burning .8x the resources, as you admitted the efficiency increased, and my worker on welfare does not consume more than when not on welfare.
"Bastiat used the parable of a broken window to point out why destruction doesn't benefit the economy. In Bastiat's tale, a man's son breaks a pane of glass, meaning the man will have to pay to replace it."
- vorotato 10y agoI realize now where you are getting the 2x, but if you are paying a full man's wages to power a robot you really need a different energy provider. The costs of powering and maintaining a robot are a fraction of the cost of a human.