So.... when all the people who were cooking the pizzas are out of work, who will be left to buy the pizzas? The same goes for all low wage jobs that are being automated away.
I'm not sure how many people have really thought through the long term implications of what happens when you automate all the "grunt" work. As a successful business, your income comes from customers. Your customers need to make money somehow. All this automation seems like it will actually kill market liquidity.
Edit: the obvious response is "a new market will move in. disrupting the old." However, I don't think the radio->television (and so on) analogy actually applies here, since it is demonstrable that there the new technologies replaced old technologies, rather than employees.
I'm not sure how many people have really thought through the long term implications of what happens when you automate all the "grunt" work. As a successful business, your income comes from customers. Your customers need to make money somehow. All this automation seems like it will actually kill market liquidity.
Edit: the obvious response is "a new market will move in. disrupting the old." However, I don't think the radio->television (and so on) analogy actually applies here, since it is demonstrable that there the new technologies replaced old technologies, rather than employees.