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Automation by robotics and artificial intelligence is gradually replacing mechanical, repetitive work done by employees. What...

Automation by robotics and artificial intelligence is gradually replacing mechanical, repetitive work done by employees. What likely effect will minimum wage increases have on the rate of introduction of automation by employers?

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Answer #1

Usually, Minimum wage rate is higher than market determined rate. Thus, minimum wage rate reduces the profitability of firms. In other words, fall in profitability of firm leads to fall in employments. Thus, if government determines minimum wage, it might cause fall in employment opportunities, Further it leads to casualisation of workers.

Hence, profitability is main objectives of firms and minimum wage reduces the profitability, Thus now it is profitable and favorable for use automation. Minimum wage is motivating automation and causing unemployment.

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