The Future is Robots

[tw]

Originally Posted by xoxoxoBruce

We have seen the future and it doesn't bode well for the masses.

Anything that increases productivity always increases jobs. If you want to reduce employment, then eliminate more machines and robots.

That does not make sense to the many educated by economic soundbytes and open loop systems. But it makes completely sense to anyone educated in how economics really works - which means closed loop systems.

An increased minimum wage is why both Wendy's and MacDonalds are now talking about automating more of the food process. The naive think that will reduce jobs. In reality, it will mean less jobs in each fast food restaurant and more jobs throughout the entire economy. An example of why a living minimum wage increases employment AND makes an economy more productive.