So it doesn't bother you that McDonald's would invest in kiosks that replace employees? How could this not expand to other applications in the future? Currently it's not a problem, but we are already seeing the beginning of it.
Did it bother you when ATMs put bank tellers out of work?
No, but that really was the beginning wasn't it?
LOL.
Uhh, no. Not even close.
Did it bother you when the Northrop loom put textile workers out of work? (that's not the beginning either)
True it goes back pretty far, but the trend doesn't seem to be stopping wouldn't you say?
No - its not. It has been going on quite a while. And its largely responsible for the high qualify of life you and I enjoy today.
Unemployment today is is 6.2%. It was 4.0 in the year 2000. 7.1 in 1980. 5.5 in 1960. 5.2 in 1928.
Advances in automation have been going on that entire time. Yet it seems to have no affected the unemployment rate.
Why?
Its simple. When a business automates - it is able to produce the produce or service you buy for left. The difference may be pocketed by the business - it may go into reducing the price - it may go into raising wages for the remaining employees - or any combination thereof -
it does not disappear. Whoever has it, spends it on increasing their quality of life - creating employment elsewhere.
NET job gain or loss is zero.