Gains from Automation Create Path to Greater Prosperity

Gains from Automation Create Path to Greater Prosperity

Automation has become somewhat of a dirty word recently. Fear of mass unemployment and widening inequality has led to calls for greater regulations of technology companies, expanded programs of redistribution, and even a “ robot tax ” to discourage adoption of labor-saving technologies. These fears, however, focus too much on the short-term disruption that creative destruction brings, ignoring the long-term opportunities for human advancement that comes along with it. Throughout history, technologies that automate labor have been crucial to emancipating people from grueling work and giving them more opportunity to pursue fulfilling careers. While inventions like the printing press […]

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