Saturday, December 8, 2012

Krugman on Robots vs. Workers

Very interesting stuff, because it reminds us that economic analysis of a situation must change if the technology influencing that situation changes enough.

Robots mean that labor costs don’t matter much, so you might as well locate in advanced countries with large markets and good infrastructure (which may soon not include us, but that’s another issue). On the other hand, it’s not good news for workers!

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