Be sure to check out my latest article over at The Federalist, where I examine the collision course we are on between technological advancement/automation and progressive policies that are ironically causing technological advancement/automation to accelerate, low-skill progressive voters be damned.
Here’s a taste:
For years now, we have seen headlines foretelling a doomsday scenario in which mass numbers of Americans are thrown out of work, replaced by computers, robots, and other time-saving, liability-minimizing machines. Human capital is not static, and not all process changes will happen all at once. Different industries evolve at different speeds, and human beings are adaptive. Yet it is only natural that businesses need continually seek ways to lower costs to profit and survive, and automation is a key means by which to do so.
In an age in which the “deadweight loss” attributable to taxes, compliance, and hyper-regulation is massive, automation will become far cheaper than having to hire, train, and pay severance to human beings. Since regulation is the mother of innovation, so artificially high costs from other forms of government intervention will force businesses to innovate by first replacing full-time workers with temporary ones, and eventually with cost-effective machines that do not require health and welfare benefits and pensions.
This presents an interesting conundrum for a Progressive coalition that relies in part upon the very poor. To the degree to which large-scale Progressive reforms like Obamacare and the recently popular $15 minimum wage raises the cost of doing business, the move to automate will only accelerate, hurting most those lower-skilled, generally poorer constituencies, which happen to be politically Progressive. This “creative destruction” will be an unwelcome development to many manual laborers, a betrayal to the Progressive political class.
Read the whole thing here.