Min. Wage Study Suggests a Robot Works for Free
OneNewsNow discusses a new report by the National Labor Relations Board with Trey Kovacs.
A new study has concluded what many people have warned about: automation will replace workers if the minimum wage jumps.
The study, from the National Bureau of Economic Research, warns of lower employment in the manufacturing sector especially for blacks, females, and older workers.
Trey Kovacs of the Competitive Enterprise Institute (CEI) says we can see this happening in many areas of the economy where wages are being raised dramatically.
“If you raise the cost of labor,” he observes, “people are going to look for alternatives. And with technology getting better and better when it comes to robots or automation, whatever you want to call it, people are going to utilize that technology more.”
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