First, when you raise the cost of labor for small entry level jobs, there will be fewer of them as businesses raise their prices and clientele evaporates, some businesses will close, fewer jobs. The businesses and business models that survive will absorb those costs with rate and price increases to customers – this results in inflation therefore your dollar will be worth a little less, how much is hard to say; 10%, maybe 20%, which is about how much the minimum wage increase would be from what it is now if it went up to let’s say $10.00.
Assembly Inspection. Proper part assembly is essential to any manufacturing process. Poorly assembled parts lead to malfunctioning, unsafe products. Machine vision systems equipped with fast, fixed focus cameras and LED illumination continuously inspect parts during assembly to verify the presence of characteristic features, and instruct robots to remove defect items from the production line.
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Device assembly and microscopic medical procedures are two of the applications relying on the existence of industrial robotics. These modern devices are much different than the other sub-classes of robots you have heard or learned about. Since it is an industrial robot, expect that the additional components and mechanisms are made to complement the requirements of any industry. Industrial robotic systems work through complicated network configurations that adapt to the business where it will be conducting its work.
Notice the use of ”deployed” instead of ”employed” and consider how that might change in the near future. Remember China’s labor costs are only a few dollars a day and they are rising ever so slightly, and they already see how they can save money, you think that wouldn’t happen here if we get a 40% increase in minimum wage overnight by Federal Government decree usurping our personal right to free contract? Think about it.
Why was she giving this talk? Simple; we beat the German’s in WWII due to our manufacturing abilities. Today, China can easily out produce us, so are we going to make the same mistake as the Germans did in WWII, in a future war with an industrial power that can out produce us? Well, are we? How can you say the answer is yes or no; you can’t and that’s one more reason manufacturing is so vital to US interests, on top of the importance of jobs, trade flows, and GDP growth. ”A nation lives well, when it produces well,” she reminds us, and quoted Adam Smith’s warning about not relying on military resources to make our defense systems.