TCS: Tech – Robot Economics

Will robots steal all our jobs? Although today’s robots may lack the intelligence God gave ants, robots of the future might perform many ‘human’ tasks. Economics shows, however, that humans needn’t fret over robot-induced redundancies.

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Robots can’t steal all jobs, but to prove this I must, alas, behave like an economist and develop a simple model. Let’s assume that our economy produces only two goods: wine and cake. Each human makes one of these goods and trades it for the other.

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