The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency.
Software substitution, whether it's for drivers or waiters or nurses - it's progressing. Technology over time will reduce demand for jobs, particularly at the lower end of skill set.
Well, jobs are a great thing. You have to be a bit careful: If you raise the minimum wage, you’re encouraging labor substitution and you’re going to go buy machines and automate things - or cause jobs to appear outside... ...
Software substitution, whether it's for drivers or waiters or nurses ... it's progressing. ... Technology over time will reduce demand for jobs, particularly at the lower end of skill set. ... 20 years from now, labor demand for lots of... ...
50 years from now we won't need as much human labour to do what manual workers do, so we should be able to take that extra productivity and put it to better use.
