Does increasing wage pressure encourage automation? Economic theory suggests that it does. Rising wages drive innovation in automation technology as firms seek cost-saving innovations to replace expensive labor. But what is the reality? Do businesses actually develop and implement automation innovation in response to external pressures, such as higher wages? Does increasing wage pressure encourage automation? Economic theory suggests that it does. Rising wages drive innovation in automation technology as firms seek cost-saving innovations to replace expensive labor. But what is the reality? Do businesses actually develop and implement automation innovation in response to external pressures, such as higher wages? Economics & Business Phys.org – latest science and technology news stories
Rising wages linked to surge in automation technology innovation
