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Author: harmy Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 459946  
Subject: Mish nails it this time.... Date: 2/24/2013 4:52 PM
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http://www.chinadaily.com.cn/business/2013-02/23/content_162......

In 2011, Foxconn vowed to install up to 1 million robots in its factories over the next three years, which analysts suggested was in part to address long-time scandals such as high suicide rates among employees and exploitation of workers.
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According to a recent report in The New York Times, Dutch consumer electronics giant Royal Dutch Philips Electronics Ltd has built a factory in Drachten, the Netherlands, where 128 robots are doing the same work as hundreds of workers in its sister factory in Zhuhai, Guangdong province.


This is not something which can be lightly dismissed. Regardless of whether robotics displace workers in China, Drachten or the US there are no winners because no taxpayers means there will be no money for welfare or Defence etc . Taken to its obvious conclusion there will be social unrest, increased crime rates and a plethora of unspecified ills for society to digest.

Regards
Harmy
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