Industrial Insight

The Robot Question… | August 12, 2020

"Although robots that can perform human labor will put downward pressure on wages in the short term, they also will increase the rate of profit, encouraging more investment and a recovery in the wage rate. It is not so much the economics of new technologies that should worry us, but rather the politics and ethics…" -Phelps, Edmund S., Project Syndicate, Aug. 6, 2020.

Read the entire article HERE.


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About author

Raymond Monroe is the Executive Vice President for the steel industry trade Association, Steel Founders’ Society of America. He enjoys his crazy family including his wife, five children and their spouses, and many fun and lively grandchildren. Raymond brings more than 40 years in the industry here to share his ‘Industrial Insight’ and other current topics affecting the economic picture of our world today.

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