Making the Case for 100% Automation with Zero% Efficiency
From Mish's Global Economic Trend Analysis
February 5, 2013 - 5:31pm
In regards to robots taking the place of humans, I can make a case that in some easily-defined setups, that 100% automation combined with 0% efficiency would be the best possible outcome.
Care to take a stab at that seemingly-impossible concept before reading further?
The idea stems from my post Robot Wars in China; Burger Flipping Robots Serve 360 Gourmet Burgers an Hour, where I concluded "If a job is repetitive and programmable, a robot is out to get it. That even includes minimum wage jobs in manufacturing and in food service."
In response to the above, reader Craig wrote ...
To the extent that's true, it's also true that tens of millions of white-collar government bureaucrats and bureaucrats in the private sector who administer and oversee government regulations and tax codes will NOT be automated. The economic and social implications are tremendous. They create no wealth...Continue reading this article »