We have already automated all (past) sectors of human activity, multiple times over. But this time will be different!
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employment may be the same but lots of evidence that it depresses most wages except at v skilled roles
but doesn't automation lower costs, reducing prices and increasing purchasing power?
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Yes, lower prices for everyone, but more income too for owners, less for workers, as we've seen for years.
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Not everyone can work for big tech, bank, or start a company, and what most people do has diminishing economic value.
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The question is, what should people then do? "Pick yourself up by bootstraps", "go to school", or "wait" won't scale.
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Takes time for displaced workers to gain new skills. If progress is exponential catching up is hard
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Not necessarily: avg price of new car in 2013 ($2K) ~ avg price in 1916 ($23K), adjusted for inflation
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