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mitxelayesterday at 11:07 PM1 replyview on HN

The value of labor has collapsed already, so it seems their theory is right and yours is wrong.


Replies

deepwoodsyesterday at 11:19 PM

Both of you are right. Individuals who manage to stay employed in the face of automation will be paid significantly more than was possible prior to automation, for the reasons the comment you're replying to pointed out. But labor as a whole will have less value. To give a simple example: if you own a warehouse and you replace 6 warehouse workers making $80,000 a year with a fleet of robots and 1 technician earning $200,000 a year, automation has minted a very comfortable living for someone while dropping your labor costs significantly.

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