The Greatest Myth About the Robotics Industry
This is a guest post. The views expressed here are solely those of the author and do not represent positions of IEEE Spectrum or the IEEE.
Just over a year ago, New York Times columnist Paul Krugman wrote a much-discussed piece on the discrepancy between corporate profits and labor compensation. The column sparked a huge debate, and on the Times website alone readers left more than 1,300 comments. The part that interested me, however, wasn't the discussion on capital versus labor. What caught my attention was a comment Krugman made about robotics. He referred to it as a capital-intensive technology. It may not sound like a big deal. The problem is, it isn't true.