with supply and demand and all… IM DEMANDING CANNED BREAD!! where’s the supply 🥺?
It replaces workers with robots so it would probably save money too.
with supply and demand and all… IM DEMANDING CANNED BREAD!! where’s the supply 🥺?
It replaces workers with robots so it would probably save money too.
Except robots don’t need to take as many breaks nor do you have to pay them minimum wage.
You do actually have to pay them more than minimum wage, if you think about it.
Minimum wage in many countries is so low it’s not enough to sustain a human. You can’t do it to a robot, since it will just not do its job, no matter how many regulators you capture or how many middle management manipulations you pull. You have to pay a living wage to a robot.
This is why “people are still cheaper than robots”. What happens if there’s a 20% wave of inflation? With workers, it’s “we don’t give out 20% pay raises, grow up”, with robots, it’s “here is your power bill, it’s 30% higher to cover for any further fluctuations in inflation, pay it or shut your factory down”.
Robots need breaks too, if they are not regularly maintained they will start to make mistakes, costly mistakes, and they might break, and when one breaks, you don’t just recruit one more wage slave from the fucked up job market, you shell out a lot of money for a new robot.
There may be cases where the price of labor is lower than the price of a specific machine, but the Industrial Revolution was built on replacing labor with capital.
It isn’t evenly spread out, but it is something increasingly happening to more and more jobs.
The problem is minimum wage is the break even equivalent of like 2-10k human hours without even factoring in expensive maintenance costs.
A return on investment of 0.5 to 2.5 years is pretty good for companies. You also have to factor the costs of maintaining a space for a human equivalent. Paying a wage doesn’t cover all labor costs.
You have to pay them minimum wage, It’s just called “monthly maintenance expenses” and it’s quite a bit more than minimum pay for humans
Is it? I can buy a vending machine for less than $8000. Converting that cost to minimum wage, that is ~28 full time weeks worth of labor to act as a mechanism to sell items. There are probably a lot of times when the cost in capital is less than the cost in labor.