Comment by mekdoonggi

I understand this is a well-developed economic theory and I am complete uninformed, but this doesn't make intuitive sense at all.

If 1 million prep cooks are replaced by robots, will food become cheap enough that those prep cooks can all get jobs as barbers, and the money people spend on food will shift to haircuts?

Will the food be so cheap that all those prep cooks can afford to learn to cut hair?

Also consider the money velocity of a human vs a robot. A human is probably paycheck to paycheck spending everything they earn. Robot earnings go back to company, which makes the stock go up, 90% of which is owned by billionaires who just keep hoarding and hoarding.