Will robots displace humans as motorized vehicles ousted horses?
The Economist
Article assessment
1) Summarize the main point of the article in approximately two paragraphs.
2) Do you agree or disagree with the main idea of this article. Explain why.
3) With fixed capital and variable labor, as long as there are diminishing marginal returns the marginal cost of production will be increasing. Now, from the point of view of a firm in a perfectly competitive market (say a farmer), what criterion do you think they will use to decide whether or not to replace workers with robots or machines in general? Be brief and concise using marginal analysis concepts.
