The impact on employment will be worse this time. Electronic sensors now exceed human capabilities. Machines are stronger, faster, and now smarter than many humans. Robots don't need sleep, food, break time, sick time, health or workman's comp insurance, and can speak English. Robots decline in price about 10% per year while humans get more expensive. Raising the cost of low end human labor will just speed up the process of automation.
You are probably right.
And like electronics robots will get cheaper as they learn how to speed up production.
Bump.