Re:Too Many Companies Drain Value from the Economy
by username90 on Thursday July 04, 2019 @01:58PM
(#20356475)
> labor share of income was 65% in 1950, and 63% in 2000. It's 57% today
How much of that is due to robots doing more work? Modern solutions like mostly automated server farms, factories and warehouses generates quite a lot of value. Who enjoys the fruits of robot labor? The people who owns the robots. Robots are not means of production, they don't make people more efficient, they just replaces people.
Example: we replace all cashiers at McDonalds with robots, does that make every other worker more productive? No. The people who own those robots reaps the profits. Can't the workers strike to get better wages now that there is more profits to go around? No, we happen to have a lot of newly unemployed cashiers who would gladly take your job from you!
How much of that is due to robots doing more work? Modern solutions like mostly automated server farms, factories and warehouses generates quite a lot of value. Who enjoys the fruits of robot labor? The people who owns the robots. Robots are not means of production, they don't make people more efficient, they just replaces people.
Example: we replace all cashiers at McDonalds with robots, does that make every other worker more productive? No. The people who own those robots reaps the profits. Can't the workers strike to get better wages now that there is more profits to go around? No, we happen to have a lot of newly unemployed cashiers who would gladly take your job from you!