The US runs about a trillion dollar a year deficit in capital investments, meaning Americans are sending more money overseas than America is receiving from foreign investment. It does not matter if your socks are made 100% by machines. Those machines need electricity, they need water for dyes and cooling and such, they need repairmen. China's dropping to 7.3% growth from 8.5% is not a trend that favors the US. The lack of water and electric are. I believe it was the Economist that recently had an article about the growing problem of businesses having production disrupted just because of water related issues. Eventually companies will migrate to the places that give them some advantage. A Nestle food processing plant will move into replace a closed textile mill. I recently read a news story about a newly constructed coal power plant being built in either Ohio or Illinois that is largely a municipal owned endeavor. They built next to the coal mine so that the reduced transportation cost of coal from next door offset the increased compliance cost because they were coal-fired. Businesses will continue to look for non-labor related advantage. I would imagine that energy/utility costs exceed labor costs in most large manufacturing facilities in the US. The person who assumed they would work at the textile mill might be able to work at the food processing plant, and the person who wanted to be a $60K a year miner might be a $35K a year lineman, but that does not mean that society will be involuntarily addled by computers.