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You know who pays the tariffs, right?
Heh. Bartenders did really well in March.
When you have job growth that outstrips supply, you have wage growth across all sectors, not just among affected industries.
originally posted by: RadioRobert
a reply to: luthier
So in a sense yes automation will create more AI developers and tech industry jobs over time but not equal to those lost...
Your model doesnt show reality of the markets where automation destroys jobs
Again, let's accept that at face value for fun: can you explain your rationale for seemingly abandoning domestic manufacturing which under your model prediction would actually undercut foreign manufacturing benefits (labor costs) while capital improvement toward automation would cost roughly the same? That would still be a boon for domestic manufacturing would it not? Why abandon the manufacturing base in that circumstance, if you believe it to be true?
Second, assuming that turns true by 2050, why abandon the short term gain in jobs possible through policies that encourage reshoring based on a belief that thirty years from now we will not need those jobs to be mass producers?
Third, circling back to the first point, the existence of those domestic industries -- regardless of level of automation-- will always result in some jobs, and resulting revenue streams for the government through various taxes, neither of which exist in our current state of fundamental trade imbalance. Wjy are we watching them offshore instead of promoting them? Because they do not meet your arbitrary metric for job creation or revenue? Is some not always more healthy than none?I
Explain exactly why we should stop caring if domestic manufacturing disappears?
originally posted by: Phage
The point being that machines just don't give a damn, they do what they are programmed to do. Frustration, a very human emotion, led to innovation. So, in a static world there could very well be no place for humans but in the real world, which changes, it's not likely that humans will be replaced. Unless lower efficiency is desirable.
Bartenders did really well in March.