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Old 05-21-2017, 07:56 AM   #100
GGG
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Quote:
Originally Posted by iggy_oi View Post
Automation does not generate wealth, it only transfers it. Unless new jobs and business are being created from it to offset the loss it slowly erodes an economy.
Here is our fundamental disagreement. Automation is not a wealth transfer mechanism. It is a driver of efficiency.

Automation creates surplus capacity. This surplus capacity can be taken as profit, a reduction in price, increased wages for remaining workers or tax. Creating surplus is always good in an economy.

Last edited by GGG; 05-21-2017 at 08:00 AM.
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