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None of my argument has to do with global arbitrage. Local competition with robot labor is enough to drive wages to near zero. Robot labor will first overtake
by constantcrying 2y ago
None of my argument has to do with global arbitrage. Local competition with robot labor is enough to drive wages to near zero.
Robot labor will first overtake where the greatest economic gain is. All human labor below that skill level will now be pushed down to lower levels.
Robot labor costs will be a hard upper limit for human wages for unskilled labor. There will be like 40% of the population in direct competition with robots. Human wages will drop hard and very fast. Thankfully things like package delivery are always cheaper for humans. Again minimum labor cost for humans is like 5 dollars a day. Robots can not compete with that, so the easiest unskilled jobs will remain human.