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Robots and Computers Enhance Us More Than They Replace Us

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  • Arthur M. Diamond Jr.

Abstract

Past fears that robots and computers would cause large increases in secular unemployment have proven unfounded. Some well-respected economists and other technology and labor analysts are worried again. Advances in algorithms have proven impressive, but experts on the mind and neuroscience remain skeptical about the extent to which robots and computers will be able to duplicate or surpass humans in areas of insight, judgment, and creativity. Certainly, for the foreseeable future, robots and computers will be more complements to human labor, than they will be substitutes for human labor, enhancing us more than replacing us. If we use the precautionary principle to justify heavy regulation of robots and computers, the benefits of enhancement will be fewer and will be delayed. JEL Classifications : J63, O33, L51, D83, O31

Suggested Citation

  • Arthur M. Diamond Jr., 2020. "Robots and Computers Enhance Us More Than They Replace Us," The American Economist, Sage Publications, vol. 65(1), pages 4-10, March.
    • Handle: RePEc:sae:amerec:v:65:y:2020:i:1:p:4-10
    DOI: 10.1177/0569434518792674
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    References listed on IDEAS

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    More about this item

    Keywords

    robots; artificial intelligence; AI; algorithms; neuroscience; technological unemployment; regulations; precautionary principle;
    All these keywords.

    JEL classification:

    • J63 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Turnover; Vacancies; Layoffs
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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