In RetroTech: NetLingo Blog

Robots are the only hope for “an aging country with more people who need help and fewer people to do the helping.”

The “robots are coming,” said Holman Jenkins in The Wall Street Journal. They’re the only hope, in fact, for “an aging country with more people who need help and fewer people to do the helping.” We’ve long known that aging Baby Boomers will trigger “giant unfunded long-term liabilities” for Social Security and Medicare. But a severe labor shortage could also keep those old people from getting the goods and services they want. Some businesses see opportunity here. “Following the logic of need,” an entrepreneur in Baltimore has spent seven years and $30 million developing robots that package prescription drugs for long-term patients in nursing homes and hospitals. Google is spending millions to develop a driverless car largely because it expects big demand from America’s retirees. Robots alone won’t save us, of course. We also need better incentives for people to “depend less on Uncle Sam.” And instead of “burying entrepreneurs in taxes” so we can pay for entitlements, we have to encourage “investors to bring us the robots that will make the future bearable.” The grim alternative is “a future in which older people receive Social Security checks but still go hungry.”