Re:The rise of robots in the German labour market
by wiz21c on Tuesday September 26, 2017 @04:00AM
(#15336969)
>>> Unfortunately in practice we have monopolies/oligopolies everywhere.
Exactly.
And to me robotics is so capital intensive that you'll inevitably have such monopolies (like in oil industry).
That's why I don't like when people look only the tool instead of the people affected by the tool (be they on on good or bad side of it).
>If machines are to rule, then we have to change the way we redistribute the worth they produce.
In theory if there is enough competition the price of the good decreases through automation.
Imagine you're a business selling clothing where 50% of the cost is labor and the rest are materials. You now buy a machine that replaces the labor cost with a 10% robot cost. You make 40% profit on everything you sell. Someone else builds a factory and sells the same good for 70% of the price. Consumers now have more money available to spend on other goods that are more "labor" intensive.
Unfortunately in practice we have monopolies/oligopolies everywhere.