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True in a monopoly situation, but if you have competition and they can automate like you, there will be a race to the bottom.
by seabee 10y ago
True in a monopoly situation, but if you have competition and they can automate like you, there will be a race to the bottom.
- makomk 10y agoNow suppose the automation technology is thoroughly patented and the inventor effectively has a government-granted monopoly on the right to use it or anything similar to it.
- icebraining 10y agoThat might delay things, but (1) patents expire and (2) there are often ways around them.
- marcosdumay 10y agoIn this case, the inventor gets rich, and everything still gets cheaper (just not as much as in the alternative).