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This makes me think of a recent Economist article about the industrial revolution. The question is why did the industrial revolution happen in the UK? Lots of
by biohacker42 17y ago
This makes me think of a recent Economist article about the industrial revolution.
The question is why did the industrial revolution happen in the UK? Lots of other places had innovation earlier, had banking earlier, etc. But one theory is that the UK at that point in time uniquely had expensive labor combined with cheap energy. Then and only then did industrialization make sense, because only then was it economical - profitable.
So I'm wondering when will advanced robotics, capable of completing complex tasks in the service industry be more economical then minimum wage humans?
Sadly I don't think this is going to happen soon, human labor is cheap and industrial robots are expensive.