Robotics, 3d Printing and Productivity

Every decade the world seems to change faster then it had the previous decade, and every year people worry about the impact of the next round of technological innovations on the work force. They worry that manufacturing jobs will vanish with robotics, that the internet will destroy service jobs.

The only limit to the amount of money which exists is a lack of human productivity and innovation.

It would be wrong to say that such changes do not bring challenges, problems and even pain to some. It's important to realize, however, that such changes decrease the cost of products, lower cost products means that people are better able to afford more things. Worstall in an article in "Forbes" points out that

 "there is no shortage of human wants and desires. If we’re getting as many physical goods from our 3-D printers as we desire then there’s no shortage of non-physical goods, services if you like, that that same displaced labour can now go and provide. This is also known as us all getting richer as we get those new services plus the manufactured things to enjoy. But the second, and clinching, argument is about cost. We will obviously only use our 3-D printers to create everything if they are cheaper than the more traditional manufacturing methods....  Yup, a fall in the costs of things is equal to, is by definition the equivalent of, a rise in real wages. So if 3-D printers do take off it can only be because, by definition, they make us all richer. And worrying about low wages when we are, again by definition, raising them really does seem most odd indeed."

As people are able to afford more things more easily many new jobs become feasible. Social Media employees which help to build a customers brand and improve relationships with employees while currently a job which is limited to a few experts has the potential to grow to a basic sales position which can be filled by more employees. The customization of cars, hand made furniture, etc all become more feasible as career choices as wealth increases and the cost of living decreases by comparison.

There are many service, handcraft, specialty manufacturing and farming jobs which can grow as wealth increases.