Matt@Occidentalism.orgMay 11, 2016 at 7:02 AMLet's be clear. Robots will mean new/different jobs, but probably not for the people that actually lost their jobs. Retraining has its limits. Some people are limited by IQ, etc.There is a fundamental flaw in this comment that you see regularly. Gains by the growth from robots occur regardless of retraining, limited IQs, etc. These factors have zero to do with the gains.
This is what needs to be understood. A worker is not going to be replaced by a robot unless there are productivity gains. It doesn't make sense otherwise.
Let's take an extreme example, all workers in the television manufacturing business and the clothng industry are laid off and replaced by robots that produce twice as many televisions and clothes---the productivity gains.
The laid off workers can only find jobs pumping gas, but because there are now twice as many televisions and clothes, it becomes much cheaper for them to buy these products.
In other words, what occurs is that an economy sees a magnificent increase in the quantity of goods produced and we now have workers freed up to provide a service that makes life easier for us.
As I have already noted:
When we think of an economy with more capital, be it robots or any other kind of capital, we should be thinking "more goods and services," becasue the only reason a businessman would invest in capital is to more efficiently produce product. If there is more product, that is goods and services, there are more choices for everyone.More robots mean a general gain in the standard of living and this has nothing to do with retraining, limited IQs, etc. The more products around the better it is for all of us.
A barber or a bartender would be much better off in such a world. Think of the way life currently is because of the massive amounts of capital investment: All sorts of products are produced that are available to even someone at a lowly dishwasher job.
A dishwasher is likely to have a better life than a king did 200 years ago. He is likely to work in an air conditioned environment, have a smart phone that is capable of piping news, music and conversation at any hour.
(Note: There are no gains, of course, for those who are forced out of work because of minimum wages laws see: Minimum Wage Laws, Robots and the Poor Saps Who Aren't That Productive)