The Robot Question
Although robots that can perform human labor will put downward pressure on wages in the short term, they also will increase the rate of profit, encouraging more investment and a recovery in the wage rate. It is not so much the economics of new technologies that should worry us, but rather the politics and ethics.
NEW YORK – The robots are no longer coming; they are here. The COVID-19 pandemic is hastening the spread of artificial intelligence (AI), but few have fully considered the short- and long-run consequences.