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Industrial Robots Transform Manufacturing Floor & Workforce

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apek_mulay
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Stock Keeper
Re: New Macroeconomics
apek_mulay   7/21/2017 2:38:05 PM
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The income wont increase without FREE MARKETS....without free markets...Robotics and Automation would cause tremendous unemployment and hence it needs NEW MACROECONOMICS.

HaileyMcK
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Blogger
Re: New Macroeconomics
HaileyMcK   7/21/2017 2:21:09 PM
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@apek, Your point is well taken. The keypoint for me is related to the fear of many people that automation will decrease demand for workers. It may decrease demand for certain types of skills, but research points to the reality that the introduction of robotics/automatoin in the suppl chain boosts the need for more sophisticated skills (and hence creates higher wage potential). From a macroeconomic perspective (and i've learned a lot from you) that would increase the income of workers (who are also customers) and so would have the potential to drive demand. 

apek_mulay
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Stock Keeper
New Macroeconomics
apek_mulay   7/21/2017 2:10:16 PM
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@Hailey, productivity growth creats SUPPLY and not demand. Demand is created through growth in wages. For Induatrial Automation to succeed, it needs NEW MACROECONOMIC policies which balance supply growth with growth in demand.



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