Peter Schiff
speaker
879 appearances
1 recordings
1 series
first heard Jul 2026
last heard 23 Jul
Peter Schiff’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.
Appearances
I mean, there are three factors of production in basic economics, land, labor, and capital.
And any business, you know, you combine all three.
Well, labor is limited.
Obviously, they're all scarce.
The resources are not unlimited.
But the labor is from human beings.
And, you know, there's physical labor.
There's, you know, skilled labor.
And there's not an infinite supply of it.
Well, AI...
and robotics have the potential over time to basically make labor or eliminate labor as a factor of production entirely so that capital handles that, right?
So your capital investment, because a robot would be capital.
Robot wouldn't be labor.
It would be your capital, a businessman.
And so AI agents would be capital.
They wouldn't be classified as labor.
So to the extent that we don't need any labor anymore, that's a good thing because that means we don't have to work.
I mean, the whole goal of progress is so we can enjoy more for less work.
The early humans, all they did is work.
They worked all day, right?
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