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Any invention that replaces human labor puts an end to that specific task. Glass recycling eliminates (or decrease) the need for silica-gathering task. Typewriter eliminates the need for printing press typesetter. Etc. Those people whose tasks are eliminated will get reallocated to their most productive use. This might be in the form of job change (silica ...


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Daron Acemoglu has written a fair bit about the impacts of automation on labour markets. Bearing in mind that mechanization and "robotization" are different in important ways (with that importance increasing as AI and machine learning become more sophisticated and ubiquitous) you could use his work as a starting point. Certainly, you'd be remiss not to cite ...


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A short answer… Say’s Law says “supply creates its own demand”. In the long term Say's Law will apply. In the short term a surprise will mean some suppliers are producing something they should not be and it takes time to adapt so there can be temporary unemployment. When it is widespread, that is a recession. Link to Say's Law This is not a satisfying answer ...


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Modern economists believe that machines can create value. The reason why Marx thought that machines cannot create value is that he subscribed to classical notion of labor theory of value (LTV). Labor theory of value is an objective theory of value that postulates that all value is determined by labor inputs (see the Durlauf & Blume 2008 entry in the ...


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This technology would be implemented on a large scale regardless of any countries law mandating it's use. Firms would save a lot of resources if they could get rid of eggs at the 4-20 day mark rather than the 22-25 day mark as this is when they start consuming food. As per unemployment it seems these numbers wont be large. A back of the envelope calculation ...


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In the classical model, recycling (and most other changes in modes of consumption) doesn't change employment either way in the long term. The jobs gained by recycling are lost from other sectors and the jobs lost are gained. Shifting away from the classical model, there are short term changes in employment from shocks in which recycling as a profession ...


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In Norway the average McDonalds employee makes $16 an hour. Lets estimate that the average McDonalds store makes 50 baskets of fries every day. Lets estimate that it takes on average 30 seconds to pour fries into the fryer. 30 seconds to remove the fries from the fryer. 30 seconds to pour salt on the fries and 30 seconds pour the fries into the paper bags. ...


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Automation would increase the upfront cost of opening a McDonald restaurant. Which wouldn't be a good thing for its franchise business. Also, you have to take into account that by automating its store McDonald's will drastically increase its electricity consumption (which will not only increase its costs overall but might impact its brand image in terms of ...


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