Tuesday, July 28, 2015
Why We Need More Robots To Raise Our Standard Of Living
We are familiar with rapid advances in technology, and the potential for robots to be more useful, but they have not increased our productivity. This article argues that slow growth in productivity is more of a threat than the loss of jobs from new technologies. The new technologies, that we are all familiar with, have automated the use of our leisure time. We need to reduce the cost of things that we monetize, in order to have an impact on productivity. For example, the demand for healthcare services is going to rise along with our aging population. We need to find ways to use technologies to reduce the cost of healthcare. We need to find more ways to use technology to complement the production of goods and services that we purchase in order to increase our standard of living.