03-11-2017, 04:33 AM
(03-10-2017, 06:40 PM)Kinser79 Wrote: I would say that absent human labor, that restaurants would still charge for the production costs (raw materials and energy for the robots) so maybe not zero but pretty close to it. I've yet to see an economic system that did not have human labor as a component part.
As for McDonalds sales numbers there are three factors at play in that. 1. Changing customer tastes (Xers and Millies seem to prefer healthier options and offering a salad drenched in oil doesn't cut it). 2. Lagging aggregate demand (the economy is still pretty rough for most people and eating out, even McDonalds is a luxury). 3. Competition from non-fast food options.
Fair enough but labor costs are a huge component of business expenses followed by regulatory compliance costs and of course the inevitable looting by governments that a business must somehow survive.
Democracy is the theory that the common people know what they want, and deserve to get it good and hard. -- H.L. Mencken
If one rejects laissez faire on account of man's fallibility and moral weakness, one must for the same reason also reject every kind of government action. -- Ludwig von Mises
If one rejects laissez faire on account of man's fallibility and moral weakness, one must for the same reason also reject every kind of government action. -- Ludwig von Mises