11-30-2013, 03:19 AM
Yes, there is no doubt jobs are disappearing because of automation, but at least in principle, this doesn't necessarily mean a net job loss for the economy:
- automation means productivity increase, means: increased profits and/or increased wages (for the remaining workers) and/or reduced prices for consumers.
- automation means productivity increase, means: increased profits and/or increased wages (for the remaining workers) and/or reduced prices for consumers.