4 ms·
Automation has led to lower prices of commodity widgets like for example 4K TVs. It doesn't result in lower prices of items and services necessary for survival
by FirmwareBurner 1y ago
Automation has led to lower prices of commodity widgets like for example 4K TVs.
It doesn't result in lower prices of items and services necessary for survival in modern society which are also subject to regulatory capture like real estate, healthcare and education.
In the case of the latter, all advance in technology and automation move to the pockets of shareholders but the cost to the consumer stays the same or even goes up once oligopolies form.
- bgwalter 1y agoMostly if they are manufactured in Asia and if there is real competition (which is the case in Asia). Much hailed privatization and automation of the postal services in. e.g., Germany has not led to lower prices. 30 years ago mailmen were literally civil servants with expensive salaries. Privatization and automation has just redirected the money to the stock holders. There will be no real competition in trucking once a few large corporations divide up the pie and get special permissions to operate.