(Bloomberg Opinion) — Of all the ideas that presidential candidates are offering to address the country’s economic woes, here’s one of the worst: Taxing, or even outlawing, automation.
Many people worry about the prospect of automation causing mass unemployment. This might be justified in the science-fiction future, if machines learn to do anything a human can do. But there’s no sign that the robot takeover is happening anytime soon.
First of all, despite rapid progress in industrial automation, most Americans still have jobs. This means that the economy is creating plenty of new jobs to compensate for those eliminated by robots. […]