Why Robots Are Worse for the Economy Than You Think

Automation is bad for the economy? Seriously? I guess going back to subsistence farming is the answer. Retard.

The fact that Krugman received a Nobel prize pretty much eliminated any credibility the prize had (Obama's win cemented it as a complete joke).

Interesting that you should mention the doctor thing.

At a local grocery store where I live, they installed this machine over ten years ago that can measure your blood pressure. You know the one with the cuff. A few days ago I was shoping there and saw that they upgraded the machine. It now includes a full touchscreen interface, and can now tell you your height, weight, muscle mass, and hydration levels in addition to blood pressure.

The key thing in this example is that this is the type of progress that should be expected in 10 years, and it shouldn't be alarming at all. Automation is a good thing. Do you know what happens when human labor is not required in the industries we automate? The associated costs rise in the industries where we can't. Eventually, when we've automated just about everything, who will use money? What will be the point of it? Money buys human labor... that's it. Every other resource (including the currently limited resources on earth like minerals) will become virtually unlimited with the future efficacy of engineering methods.

We heard of similar argument at the dawn of industrial revolution.
Human are fine and trading today.
I say, let there be more robots, so that more human can be freed from factory to join retail forex trading.

anyone see the 60 minutes piece this last sunday on robots. They have them so cheap now that they can basically work for less money than a chinese worker. the idea is to make America competitive again through automation. What are all of the people going to do?

Guys do not worry. In spite of millions of unemployed people the unemployment rate will be zero as long as unemployed gives up to look for jobs. This is the rule in the USA right now. This is the world we are creating for our children. But I really believe the robots are the least of the evils. Politicians are the real threatens to the future.

Directly related to unemployment. As robots increase so does the unemployment rate.

No need to hire that guy just use a robot that will work 24 hours a day and will not complain about days off. The robot will charge itsel when it needs more energy

Sorry baby boomers.

Well the data are clear that few private sector jobs have been created in the US since 2000. The annual figure for private sector jobs in the US was 110, 995, 000 in 2000 and the preliminary figure is 111, 271, 000 in 2012. The total employment figures for China are 720, 850, 000 in 2000 and 764, 200, 000 in 2011. It is reassuring to hear that the lack of employment in the US is the result of deployment of robots, but why is all the stuff I buy made in China? Do you think any of those 44 million jobs created in China are making any of it, or is it just being mislabeled so the government doesn't tax the makers in the US who own all the robots?

No one seems to realize that the human being will soon be obsolete, in terms of being able to outproduce automatons with artificial intelligence.

It won't be so long in the future when even doctors will be replaced...a human will just walk into a scanner and it will measure all the vital signs, including blood flow and many factors now not even considered, and in just a moment create an accurate diagnosis, far faster and better than a doctor will be able to do.

How then is the human economy, and society going to work? We think service to humans will survive the automation, but eventually it will not.

The future chaos that is going to come from this is unimaginable, yet unavoidable.

We are at the end of this civilization, not just Western Civilization, but Human Civilization, and unless we find out why we are on this planet...there we be no more "us".

I dont' think it is being mislabeled. The US factories are slowly transitioning into robotic structures. I've witnessed this first hand. Entire floors are now managed by robots that are producing 24/7 and they actually re-charged themselves when needed. The managers from your local factory will not talk about it directly because it is a sensitive labor issue ( Especially if Unions are involved ).

Guys! Tell me, who will maintain these robots? Possibly an other robot? Maybe. But who will maintain this second robot? etc.... At the very end there must be a MAN/Human being, I guess. And who will invent the robot? For sure: a Human being! Never - NEVER - will have a robot with the spark of mind of a Human being!

Robots will need human beings but you will not need as many humans. Robots will build robots maintained by less human beings. The aging labor force will have to find a new career. The past was all talk from imagination. Today it is reality. Robots in manufacturing is the future whether you like it or not. Robot engineering should be the next best career in the next 20 years.

These robots re charge themselves without supervision. When they run out of energy they move to an energy station and another robot replaces the station while the other is recharging. I've seen this first hand. The cost of labor unions is one of reasons robots are being used. Robots don't complain and they don't hire lawyers, lawyers are maggots. They increase the cost of doing business,

Before it was talk and ideas. Today it is becoming a reality. I wonder if BLS included robots as employees. Lol