Comment: Wrong Wrong Wrong

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Wrong Wrong Wrong

The "machines will take our jobs" is based on a logical fallacy. It is the fallacy that workers who are displaced by a machine will not find a more produtive use for their labor.

This is the EXACT SAME ARGUMENT that Marx used: That specialization, division of labor, and mechanization will render "workers" destitute.

It's wrong, wrong, wrong!

The expansion in incomes and living standards of the working class due to the industrial revolution is UNDENIABLE and IRREFUTABLE. Real incomes DOUBLED in the U.S.A. from 1870 to 1880 due to machines taking jobs away from hand assemblers.

This erroneous Luddite idea can be exploded so easily.

If you ascribe to it, I suggest you immediately unplug all your machines and perform all your work by hand. No more dishwasher, no more washing machine, no more car, etc. You will certainly find that the number of "jobs" you now have will increase, probably by 10 fold, as you toil away 23 hours a day. But will you be any better off? Of course not.

"Droids" are capital. Increases to the capital stock increase the productivity of labor and drive wages UP, not down.

Once, when Milton Friedman was shown the construction of a canal by a bureacrat, Friedman asked hm "Why are they digging it with shovels?" The bureaucrat replied, "Because it creates more jobs when the do it by hand." To which, Friedman replied, "Then why not make them dig it with spoons.?"