Replaced by Robots: Imagining the Impact on Labor Markets and Society

Technological revolutions have long animated economic history. The concept of "creative destruction"--in which technological advancement destroys certain sectors of the economy while giving rise to new ones--has roots in some of the earliest economic thought.1 This process hinges on the idea that machines serve to supplement human labor, primarily labor dedicated to repetitive physical and cognitive tasks. At the moment, machines can solve intensive well-defined tasks but for the most part cannot be expected to define problems nor identify and traverse particularly complex systems without human oversight. Robots: A Retrospective The most primitive economies are essentially brawn-based. Human labor is largely priced by the ability to perform physical tasks associated with farming and building. A number of studies (e.g., Thomas and Strauss, 1997) show how in modern-day less-developed economies, men make more than woman as a function of body mass and thus perceived brawn, and that men with more brawn made more than those with less.