THE ROBOT TWEETSTORMS by @PMARCA
One of the most interesting topics in modern times is the “robots eat all the jobs” thesis. It boils down to this: Computers can increasingly substitute for human labor, thus displacing jobs and creating unemployment. Your job, and every job, goes to a machine.
This sort of thinking is textbook Luddism, relying on a “lump-of-labor” fallacy – the idea that there is a fixed amount of work to be done. The counterargument to a finite supply of work comes from economist Milton Friedman — Human wants and needs are infinite, which means there is always more to do. I would argue that 200 years of recent history confirms Friedman’s point of view.
If the Luddites had it wrong in the early 19th century, the only way their line of reasoning works today is if you believe this time is…
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