You mentioned in your podcasts that enterprises should invest in more efficient equipment to keep productivity high yet you have spoken negatively on increased automation because it takes away jobs. Isn't that contradictory and isn't automation a good thing because it improves the overall quality of the workplace? Doesn't automation give opportunity for the people to shift to more meaningful ventures than the jobs the automation replaced?

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  • John Smith
    commented 2016-11-17 13:13:15 -0500
    If (jobs lost) > (jobs created) then unemployment = (current unemp+(jobs lost-jobs created)). High unemployment = unproductive workforce. If 90% of people have no work, and therefore no income, then you have a lot of people shifting to meaningless ventures like sleeping in the streets, eating out of dumpsters, etc.
  • Ahmed Bouhashi
    published this page in Ask Prof. Wolff 2016-11-17 08:16:49 -0500