Friday, September 8, 2017

Increased Automation and Job Loss



  • KEY ECONOMIC PRINCIPLES I’M ADDRESSING: Scarcity and opportunity cost
  • www.theverge.com
  • OVERALL RESEARCH QUESTION: What is the opportunity cost of increased automation? What should government institutions (e.g. Congress, SBA) do about it?   

  • SUB QUESTIONS
    • How is automation affecting us today and how will it likely affect us in the near future?
    • Should advances in automation be regulated, how much should they be regulated, and who should regulate it?
    • Will increased automation actually save more lives in the long run?
    • Should a basic income be considered?

In order to start a successful clothing business, entrepreneurs allocate their initial scarce resources. This includes having a theme/look...