Quote:
Originally Posted by GGG
Automation is incremental improvement. It’s difficult to attribute within the noise of the rest of the economy.
I would argue that any instance of a good rising at a rate lower than inflation is a result of automation of one kind or another.
But if you really want one example the assembly line made automobiles go from a luxury good to consumer good.
Also if you accept the statement that automation decreases the cost of producing a good then somewhere there exists an example where the price went down as a result just based on laws of large numbers whether Bo Levi is able to produce the example or not.
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The examples are too many to list. But I did provide a number of them above.