In the News
How robots are taking over warehouse work
24th April 2024
Here is an article that highlights innovation in retail, with the increased automation highlighting that capital and labour are substitutes in some senses, but also complements in others, in that more highly-skilled workers are required to programme and maintain them.
From the firm's perspective, investing in automation incurs higher fixed costs but may drive down variable costs, and this has implications for a firm's profit-maximising output, and, of course, it's profit levels.
You might also like
Ethical dilemmas facing Japanese academics
4th March 2016
Capita to replace workers with robots
10th December 2016
The world if robots take our jobs
15th February 2017
The Planet's Biggest Baked Bean Factory
28th January 2018