The World’s Biggest Revolution
Justin’s note: South Korea just made history. Two weeks ago, it introduced a “robot tax.” It became the first country to adopt this policy. Now, to be fair, this isn’t a tax at all. But it will make it more expensive for South Korean companies to invest in technology. Under the current law, South Korean companies can deduct up to 7% of how much money they spend on automation equipment or robots. But soon they’ll only be able to deduct 2% of their investment. The government hopes this will encourage companies to hire workers instead of buying robots. Below, I talk … Continue reading →
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