The Economics of Knowing Before It Breaks
Machines have an annoying habit. They break. For most of industrial history, we had three ways of dealing with this. Wait until the machine breaks and repair it…
Machines have an annoying habit. They break. For most of industrial history, we had three ways of dealing with this. Wait until the machine breaks and repair it…
Ask who builds cars, and the answer seems easy. Toyota builds Toyotas. Ford builds Fords. Ask who builds a robot, and things get complicated. The company whose …
The Internet is full of people. The Internet of Things is full of machines. And the machines may eventually have far more to say to one another than we do. A sh…
For most of human history, houses were remarkably unintelligent. They kept out rain. They kept in heat. They provided somewhere to sleep, eat, argue, raise chil…
A worker asks for a salary. A robot asks for something more complicated. It needs to be purchased, installed, programmed, powered, maintained, repaired and even…
There is a wonderfully simple way to test an economic theory. Stop arguing about it. Try it. For decades, economists, politicians, and ordinary taxpayers have d…
Imagine waking up on the first day of every month and finding $1,000 in your bank account. You didn't earn it. You didn't apply for it. You don't have to prove …
For decades, the robot economy belonged to the future. Robots would build our cars, clean our homes, deliver our groceries, care for the elderly and perhaps one…