Economics

Cierra Goodman

Macroeconomics 1010-03

Magaret King

2/8/2013

    Are we prepared for a world of poverty? Can we handle 50 to 70 percent of workers being unemployed? Can you imagine jobs disappearing due to robots?  Scientist believes that before the end of this century. Robots will control the world and all jobs. Macroeconomics best fits this situation because unemployment will affect the nation.

   A robot is just a smarter computer. The robot will be able to jobs such as, data entry number crunching, operation, and much more. If a robot that doesn’t need to be paid can do what a human employees can then many people would be out of jobs. Which will cause a great depression and recession. Labor is to be done by humans but eventually this theory will change.

   There’s barely any former job even for people with degrees. If robots took over the low paying job, unemployment would be really high. Most of the jobs today are paying and worked by high quality people. The normative economics is that robots should be allowed to take over human jobs. Martin ford says that robots taking over the work force will only tear the economy into pieces.

   Entrepreneurship is when a person who organize and manages any enterprise, especially a business usually with considerable initiative and risk. Key word in the definition of entrepreneurship is “people” because that’s who are suppose to do labor. Small businesses are the only ones want the new technology. The robots will only benefit small businesses. Scarcity comes in this situation because the robots will not be getting paid for their work. Therefore they satisfy all wants at a zero price.

  The unemployment rate is at 13.1 percent as of December 2012. In less than 20 years unemployment rate will increase to 50 percent. This is a negative effect on the humans. How will they afford health care or social security? Food and other life resources will run out. The robots don’t need food and water. Therefor humans have no one to rely on. All these things will disappear as well as humans. Humans will become the real “Outsiders”. In order to prevent this from happening, we should ban the creation of robots. We should make more jobs available for humans especially people with college degrees and cant find jobs.  This is how the human race can remain the population majority.