Along with legislating the lowest-skilled into forced unemployment, government's destructive minimum wage also creates great incentive for automation.
Below are two examples that crossed my radar this morning.
A machine that makes fresh pizza from scratch in 3 minutes:
And a robot that can load a dishwasher:
Automation may occur in some cases even if there weren't the government regulatory restrictions, and that is not a bad thing, but the restrictions expand the number of positions where automation makes sense and results in higher unemployment of the low skilled.
Chris Rossini is author of Set Money Free: What Every American Needs To Know About The Federal Reserve. Follow @chrisrossini on Twitter.
No comments:
Post a Comment