I read this article a few days ago:
Wendy’s (WEN) said that self-service ordering kiosks will be made available across its 6,000-plus restaurants in the second half of the year as minimum wage hikes and a tight labor market push up wages.
Of course, this very outcome was predicted quite a while back. Furthermore, anyone with an even rudimentary grasp of economics understands that when the price of a good or service becomes prohibitively high, substitutions will be sought. Nevertheless, the path to hell is paved with good intentions and progressivism is, fundamentally, the belief that good intentions obviate the need for good outcomes. Is this pretextual? Perhaps. But that it is happening is more important than why it is happening. It is incontrovertible that automation is here to stay and its adoption will likely only accelerate over the next few years as the cost of even low quality human labor increases while the cost of mechanization simultaneously decreases. A world of no strikes, no sick leave, no work breaks, no lateness, and no salaries. A big biz wet dream. I’m sure many a tycoon has soiled himself at the prospect. So much talk about walling off the southern border when the biggest threat to the nation lies within. A resentful, destructive, noxious, high-time preference fifth column incapable of understanding the long term implications of their actions.
All this talk about walling off the southern border-we’ll be trapped in a nation ruled by Skynet and robot overlords while having to fend off teeming hordes of utterly superfluous and largely low IQ people whose labor will have zero value to the market struggling to acquire life’s necessities.
The only thing that Fight for $15 has been successful in accomplishing is bringing the obsolescence of human labor one step closer to reality.