Corporations would rather buy robots to make things. They are cheaper, more efficient, more accurate in most cases and won’t unionize or commit suicide in defiance of poor working conditions.
Corporations are making enormous amounts of money not hiring people and why should they when machines will do the job faster, cheaper and better? Apple (AAPL) sits on about $76 billion of cash, Intel (INTC) about $20 billion and Microsoft (MSFT) about $40 billion. They won’t hire a single person unless they can make money from that hire. That’s just the nature of business.
This isn’t news if you’ve been paying attention. The real question then becomes: how do we feed, clothe and house people who do not serve any corporate interest outside of consuming corporate goods?
How do we sustain people who no longer are a cog in the capitalist wheel? And do not assume that you are immune from such a fate. Practically any job title besides “Owner” can be outsourced or replaced by a machine.
Taiwanese technology giant Foxconn will replace some of its workers with 1 million robots in three years to cut rising labor expenses and improve efficiency, said Terry Gou, founder and chairman of the company, late Friday.
The robots will be used to do simple and routine work such as spraying, welding and assembling which are now mainly conducted by workers, said Gou at a workers’ dance party Friday night.
The company currently has 10,000 robots and the number will be increased to 300,000 next year and 1 million in three years, according to Gou.