This week, Bob tackles growing concerns about artificial intelligence, automation, and mass unemployment. Using the principles of marginal productivity and comparative advantage, he shows how the standard economic arguments still apply—even in the age of ChatGPT and robotics. Responding directly to viral tweets from Matt Walsh, Bob dismantles the popular belief that AI will inevitably destroy human labor markets. He explains why highly skilled labor has always coexisted with less-skilled workers and why new technologies, despite their disruptive effects, tend to improve standards of living for everyone over time.
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147 sats \ 1 reply \ @SimpleStacker 6h
Indeed. Economic logic has not been broken, at all.
I have a phrase that works well with people. I say, "Instead of worrying about the jobs that will be lost, think instead about, 'What can people now do instead to provide value to each other?'"
It puts the whole idea of "jobs" in proper perspective.
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130 sats \ 0 replies \ @kepford OP 6h
Bob had one example that hit me. What if tomorrow there was a cure for cancer. Think of all the doctors and medical professionals that would be put out of work. Would we want the government to step in? It's absurd.
What is really wild to me is how many people that should know better clearly don't. You can read Rand, Rothbard, Freedman, Sowel, Mises, and countless others and glean all you need to know to kill this flawed thinking. And yet, many on the right still don't get it.
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100 sats \ 1 reply \ @kepford OP 6h
Bob also does a short summary of why slavery is actually economically inferior to free labor. I remember the first time I heard this argument and realized how flawed it was not only morally(of course) but also economically.
Not understanding things like this is at the root of so many flawed ideas.
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0 sats \ 0 replies \ @kepford OP 3h
To be clear. The theory that I believe is flawed is that slavery is more economically profitable for a society than free labor. Which is pretty much what most people believe (including me before being presenter with an alternative view ).
The short version is incentives. When you incentize everyone everyone benefits.
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