Robots and Computers Enhance Us More Than They Replace Us

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