The Economics of Automation: What Does Our Machine Future Look Like?: Supply and Demand

The video discusses the impact of automation and technology on job markets, drawing parallels with supply and demand economics. It explains how technological advancements can make jobs obsolete, using examples like accountants and apples to illustrate supply and demand dynamics. The video also highlights the effects of outsourcing and technological improvements on wage stagnation and job availability.

How does the text relate the concept of wages to the supply of accountants?

Discuss the implications of technology on the number of accountants needed in a company.

What does the text suggest about the future of jobs in a highly automated world?