4 ms·
Cheaper Robots, Fewer Workers
- mc32 11y agoCheaper robots fewer _jobs_ for available workers. If robots displace cheap enough workers from the Chinese hinterlands, this does not bode well for the indias and africas of the world. It used to be labor intensive manufacturing raced to the wage bottom counties, but if they now no longer need labor, what does an ascending India or Africa have to offer their hopeful masses of low education workers....
- IndianAstronaut 11y agoThis topic comes up often. This theory has its issues but is mostly solid. http://en.wikipedia.org/wiki/Lump_of_labour_fallacy http://en.wikipedia.org/wiki/Lump_of_labour_fallacy