Quote from: trollercoaster on July 30, 2015, 05:45:03 AM

http://sputniknews.com/science/20150506/1021755458.html

http://www.telegraph.co.uk/technology/news/10697529/Prisoners-could-serve-1000-year-sentence-in-eight-hours.html

Re the first link: Please note that this is not the magic of the free market, rather it is the state subsidizing the robots. In their wisdom, they have decided that robots can better do the work, and they use scarce capital confiscated from the public to do it.

The market would only do it, when wages are so high that the capital expense would be lower than keeping the workers, the price of labour signaling that it is so valuable that it could better be used elsewhere.