Re: Robots are replacing humans
Robots also don't ever get better. They aren't adaptable in the least. They can't think of ways to improve their work process. They break down, and their parts go out of stock or get jacked up in price by monopoly suppliers. They stop working when the power goes out. Robots don't support the local economy by buying food, entertainment, durable/nondurable goods, and housing/transportation. You have to pay sales tax to employ one (!).
I'd also note that a big part of the employee expense is due to FIRE as well: retirement costs and health care.
Indeed. The data also notes the mobility shift starting in the mid-80s: the start of the modern FIRE era. Those were times that were tough for a lot of people; today in contrast we have a huge population which are effectively serfs tied to their homes, those 22% or so of mortgage holders who are negative equity.
Originally posted by radon
I'd also note that a big part of the employee expense is due to FIRE as well: retirement costs and health care.
Originally posted by EJ
Comment