Quote:
Originally Posted by wehateporn
Let's say that Peter Schiff creates millions of androids who are capable of doing everyone else's jobs better than them, eventually his androids take all the jobs in the USA. All the money paid to the androids goes to Peter Schiff, he pays tax on it, but there are no jobs for anyone else. Would be be ok to accept this?
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Nothing hypothetical about creating lots of machines that do a better job than human workers. It was called the Industrial Revolution. Some workers complained about the new machines. Others learned to maintain, design, sell, or operate the machines and for big pay raises because they were able to operate machines setting 10,000 rivets per hour, whereas before they could personally set 150 rivets per hour.
In the 1980s a new generation of machines starting doing the jobs once done by humans, doing those jobs better and faster. This time it was called the Information Age. Some workers complained. Other workers learned how to operate, operate, design, construct, and maintain the new machines, called "computers". The ones who learned tbe new technology made more money than before because they were more productive than before.
In each case, increased productivity doubled average wages. It was a great thing for the country. It wasn't as great for those who refused to learn the skills needed for the new environment.