Will minimum wage hikes lead to a huge boost in automation? Only if we're lucky
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Re: Will minimum wage hikes lead to a huge boost in automation? Only if we're lucky
#2stagflation
Re: Will minimum wage hikes lead to a huge boost in automation? Only if we're lucky
#3Here is the critical section of the article:
> What about the workers thrown out of jobs by the new robo-waiters? Many would get new jobs, though the way this would work is often ignored.
> Most restaurants would keep longer hours (they're paying for the rent and the robots anyway), meaning many workers would get a raise and change shifts.
No, the workers are now fired. They don't get a raise.
> The advanced robo-restaurant technology would itself be a valuable American export good, and people would be employed in designing and selling it.
Yes, but not the people we just fired.
> Some low-wage work would be reallocated out of the relatively low-social-value restaurant sector and into things like child care and home health assistance, for which there is ample demand.
If there is ample demand for such things, and those things pay better, and typical restaurant workers are qualified, then we should already see a mass exodus from restaurant work. We don't. Thus one of these things isn't true.
> Since poor people are now making more money...
You have not given any evidence to support this.
Re: Will minimum wage hikes lead to a huge boost in automation? Only if we're lucky
#4How did someone come to this conclusion?
"Right now the retirement age is rising from 65 to 67, and most people think it will have to go up to 70. If robots can do a lot of the work instead, we could put it back down to 65 or even to 62 while still growing the economy. "
Robots are going to pay the social security tax.
Re: Will minimum wage hikes lead to a huge boost in automation? Only if we're lucky
#5Thought experiment. If the government will start forcing your employer to pay you, lets say 70% more than you currently make beginning next month (if they want to keep you), would you be worried about losing your job?
Oh, and let's not forget, nobody else will be allowed to hire you from that point on if they don't pay you at least that amount that your current employer will be forced to pay you from now on.
Re: Will minimum wage hikes lead to a huge boost in automation? Only if we're lucky
#6stagflation
We are going to get both - mass redundancy on top of stagflation - reporter cum arm-chair economists notwithstanding.
Re: Will minimum wage hikes lead to a huge boost in automation? Only if we're lucky
#7Here is the critical section of the article: > What about the workers thrown out of jobs by the new robo-waiters? Many would get new jobs, though the way this would work is often ignored. > Most restaurants would keep longer hours (they're paying for the rent and the robots anyway), meaning many workers would get a raise and change shifts. No, the workers are now fired. They don't get a raise. > The advanced robo-res…
> The advanced robo-restaurant technology would itself be a valuable American export good ...
Yeah. I don't know about this one either. Why do I get the feeling America will be buying a really large fraction of those robots from overseas?
Re: Will minimum wage hikes lead to a huge boost in automation? Only if we're lucky
#8A hike in the cost of labour was the reason why the industrial revolution happened in Britain vs India.
Even today, the cost of labour is so little in India that there is no need to innovate in robotics,AI etc.
To me the question should be framed as - do we want minimum wage workers to be slaves ? This is essentially the argument being made.
If robots are actually cheaper then why haven't they being deployed yet ? Having done research in robotics when I was younger - there are more productive use of roboticist's time then to go after minimum wage service workers. Its non-trivial to exchange a waiter with a robot, and we already have "ready made" food - so why do people still go restaurant ?
The only thing a hike in minimum wage is going to do is cut into the profits of restaurant owners, landlords and big chain corporations.
Re: Will minimum wage hikes lead to a huge boost in automation? Only if we're lucky
#9The article makes a number of arguments as if stating accepted facts, when much of it doesn't even logically follow.
>Some low-wage work would be reallocated out of the relatively low-social-value restaurant sector and into things like child care and home health assistance, for which there is ample demand.
If this is true, then what is preventing it from happening now?
>we are able to produce everything we need with less labor, we can afford to let people work less.
The tired old utopia argument. Robots will do everything while we all sun on the beach.
Firstly, this ignores the fact that people spend their time working because they need money, not because there is work to be done.
Secondly, If we are making things with less labor, then there is less demand for labor and, thus, lower wages. Yet, the producers realize higher profits. The actual result is not utopia for all, but the wealth divide that we see now.
>Most restaurants would keep longer hours (they're paying for the rent and the robots anyway), meaning many workers would get a raise and change shifts.
Not sure where any of the leaps of logic packed in there originate. The entire statement is completely irrational.
>advanced robo-restaurant technology would itself be a valuable American export good, and people would be employed in designing and selling it
Complete sleight of hand. We're talking about the effect on low wage workers, not highly skilled robotics designers and sales engineers. The people who are displaced are very unlikely to gain employment designing the robots that are replacing them.
Re: Will minimum wage hikes lead to a huge boost in automation? Only if we're lucky
#10A hike in the cost of labour was the reason why the industrial revolution happened in Britain vs India. Even today, the cost of labour is so little in India that there is no need to innovate in robotics,AI etc. To me the question should be framed as - do we want minimum wage workers to be slaves ? This is essentially the argument being made. If robots are actually cheaper then why haven't they being deployed yet ? Ha…
> A hike in the cost of labour was the reason why the industrial revolution happened in Britain vs India
There was also the forced de-industrialization of one of those nations by the other one.