Leslie Bray

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Leslie Bray
Posted almost 2 years ago
Will Automation Lead to Economic Collapse?
People who used to be workers find employment in providing new products and services. Human needs are infinite. All parties gain. Consumers gain by increased spending power, Businesses gain by staying in business, Price competition drives price to lowest possible that still makes the process of providing the good or service worth while. Profits above the minimum can only be achieved through Innovation (Joseph Schumpeter) Innovation leads to the creation of new products and services that leads to new employment opportunities.