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That's a great point. Many people will find that the market doesn't value their labor much at all, so we should tax automation as well. We can use the funds to
by charlesu 6y ago
That's a great point. Many people will find that the market doesn't value their labor much at all, so we should tax automation as well. We can use the funds to provide income to displaced workers.
- seanmcdirmid 6y agoWe will get there eventually, it is unavoidable...labor is rapidly losing in its value proposition vs. capital. The minimum wage puts a bottom on the level of human labor the economy can support. This isn't a bad thing, it pressures people up the labor value chain ($5/hour jobs don't exist, you better be able to do a $10/hour one), and it forces companies to constantly improve productivity to match (e.g. through automation). However, if you move the line too fast, productivity improvements will eliminate lower level labor too quickly, causing problems for society. Artificial restrictions on labor will only cause those things to accelerate unless we tax robots as people (as you propose).