Had an email asking me for some thoughts on this. So, here’s the proof that the robots will make us richer in aggregate.
GDP is production, consumption or income. The sum of all of them in the economy. And by definition they are equal to each other. Production equals consumption equals incomes.
And I think we all agree that the robots are going to increase production, yes? Thus they must increase incomes and consumption, cannot be any other way.
Sure, that still leaves the question of the income distribution but it’s market competition which leads to consumers getting the bulk of that.