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Are robots good for the economy?

Robots will improve the economy

Robots will destroy the economy

 Getty Images: Central Press / Stringer

Robotic technology will be good for the economy over the long term and will positively shape the workplace, says Jim Rock of TechCrunch. Among the robots' benefits are the potential to help companies keep down labor costs while increasing productivity. Rock dismisses the fear that robots will replace human workers, saying they will more likely make humans more efficient. Automation will also bring offshore jobs back to America, which will create more job opportunities, promote skills training and make the jobs market more competitive and efficient.

Keep on reading at TechCrunch

Robotic technology will destroy the economy. While automation and software will soon replace humans in predictable and formulaic jobs, the software is growing more sophisticated, which means that both blue- and white-collar workers will be forced out of work. In National Geographic, Simon Worrall and author Martin Ford discuss how robots will cause growing unemployment, which will lead to a severe decline in purchasing power and demand, which will spiral into inflation and an overall decline in the world economy.

Keep on reading at National Geographic
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