Humans vs. AI

AI and Comparative Advantage

It was a fact universally acknowledged that a young man or woman in 1800s Lancashire could find gainful employment as a weaving apprentice. In the pre-factory cottage industry, a weaving family would typically own one handloom. With the dawn of mechanised wool spinning, plenty of jobs became available for the young and willing to upskill. The typical experience of an apprentice begins with frustration. A master weaver can do everything the apprentice can do, but twice as fast and better. Set up the loom faster, spot faults in the cloth sooner, produce twice the yardage per day. ….[READ]