What if Robots Take All the Jobs?

rogerz writes: Harry Binswanger writes on Substack:

Hint: They won't. ... How do I know that? How do I know that the robots won’t be doing everything, leaving nothing for human beings to earn money doing? The temptation is to answer by finding things robots won’t ever be able to do. “Robots will never be great chefs.” “Robots will never be venture capitalists.” “Robots will never write a first-rate symphony.” That’s irrelevant. The point is that even if AI and robots could do everything better than any human being, that would enhance, not undermine, the value of human labor. Why? The explanation comes from applying here an important truth discovered two centuries ago. In 1817, the great English economist David Ricardo identified “The Law of Comparative Advantage.”

He fleshes this out with great examples. Truly mind-opening.