Robots in 2015

Robots completely change the equation, because robots make the minimum wage irrelevant. As robots become available, they will allow the fast food industry to dump all the minimum wage workers. The executives will make even more money, and who can blame them? We would all like to get bigger paychecks. The goal of a business owner is to make more and more money, not to create jobs or raise wages.

This is why robots will spread throughout the workforce with remarkable speed. The same sensitivity to labor costs will cause the high-speed replacement of employees in retail, construction, transportation, entertainment, etc., all at approximately the same time. Over the next decade or two, robots will begin releasing millions workers from their jobs. The bad news is that there will be nowhere else for these workers to go.

Advertisements