{"id":5280,"date":"2012-08-18T20:56:33","date_gmt":"2012-08-19T00:56:33","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=5280"},"modified":"2012-08-18T20:56:33","modified_gmt":"2012-08-19T00:56:33","slug":"new-wave-of-deft-robots-is-changing-global-industry-nytimes-com","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/18\/new-wave-of-deft-robots-is-changing-global-industry-nytimes-com\/","title":{"rendered":"New Wave of Deft Robots Is Changing Global Industry &#8211; NYTimes.com"},"content":{"rendered":"<p>The cost of automated assembly lines is falling and at some point will become cheaper than their labor-intensive equivalent. The result could be a tectonic shift in manufacturing but where will the redundant assembly workers find jobs? JOHN MARKOFF of the NYTimes writes:<\/p>\n<blockquote><p>The falling costs and growing sophistication of robots have touched off a renewed debate among economists and technologists over how quickly jobs will be lost. This year, Erik Brynjolfsson and Andrew McAfee, economists at the Massachusetts Institute of Technology, made the case for a rapid transformation. \u201cThe pace and scale of this encroachment into human skills is relatively recent and has profound economic implications,\u201d they wrote in their book, \u201cRace Against the Machine.\u201d<\/p>\n<p>In their minds, the advent of low-cost automation foretells changes on the scale of the revolution in agricultural technology over the last century, when farming employment in the United States fell from 40 percent of the work force to about 2 percent today.<\/p><\/blockquote>\n<p>via <a href='http:\/\/www.nytimes.com\/2012\/08\/19\/business\/new-wave-of-adept-robots-is-changing-global-industry.html?_r=1&#038;smid=tw-share'>New Wave of Deft Robots Is Changing Global Industry &#8211; NYTimes.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cost of automated assembly lines is falling and at some point will become cheaper than their labor-intensive equivalent. The result could be a tectonic shift in manufacturing but where will the redundant assembly workers find jobs? JOHN MARKOFF of the NYTimes writes: The falling costs and growing sophistication of robots have touched off a &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/18\/new-wave-of-deft-robots-is-changing-global-industry-nytimes-com\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;New Wave of Deft Robots Is Changing Global Industry &#8211; NYTimes.com&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,29],"tags":[307,1822,2983],"class_list":["post-5280","post","type-post","status-publish","format-standard","hentry","category-economy","category-the-big-picture","tag-automated-assembly-lines","tag-industrial-revolution","tag-robots"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>New Wave of Deft Robots Is Changing Global Industry - NYTimes.com - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Wave of Deft Robots Is Changing Global Industry - NYTimes.com - the patient investor\" \/>\n<meta property=\"og:description\" content=\"The cost of automated assembly lines is falling and at some point will become cheaper than their labor-intensive equivalent. The result could be a tectonic shift in manufacturing but where will the redundant assembly workers find jobs? JOHN MARKOFF of the NYTimes writes: The falling costs and growing sophistication of robots have touched off a &hellip; Continue reading &quot;New Wave of Deft Robots Is Changing Global Industry &#8211; NYTimes.com&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/18\/new-wave-of-deft-robots-is-changing-global-industry-nytimes-com\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2012-08-19T00:56:33+00:00\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/18\/new-wave-of-deft-robots-is-changing-global-industry-nytimes-com\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/18\/new-wave-of-deft-robots-is-changing-global-industry-nytimes-com\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"New Wave of Deft Robots Is Changing Global Industry &#8211; NYTimes.com\",\"datePublished\":\"2012-08-19T00:56:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/18\/new-wave-of-deft-robots-is-changing-global-industry-nytimes-com\/\"},\"wordCount\":182,\"commentCount\":2,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"keywords\":[\"automated assembly lines\",\"industrial revolution\",\"robots\"],\"articleSection\":[\"Economy\",\"The Big Picture\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/18\/new-wave-of-deft-robots-is-changing-global-industry-nytimes-com\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/18\/new-wave-of-deft-robots-is-changing-global-industry-nytimes-com\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/18\/new-wave-of-deft-robots-is-changing-global-industry-nytimes-com\/\",\"name\":\"New Wave of Deft Robots Is Changing Global Industry - NYTimes.com - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"datePublished\":\"2012-08-19T00:56:33+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/18\/new-wave-of-deft-robots-is-changing-global-industry-nytimes-com\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/18\/new-wave-of-deft-robots-is-changing-global-industry-nytimes-com\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/18\/new-wave-of-deft-robots-is-changing-global-industry-nytimes-com\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"New Wave of Deft Robots Is Changing Global Industry &#8211; NYTimes.com\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. 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JOHN MARKOFF of the NYTimes writes: The falling costs and growing sophistication of robots have touched off a &hellip; Continue reading \"New Wave of Deft Robots Is Changing Global Industry &#8211; NYTimes.com\"","og_url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/18\/new-wave-of-deft-robots-is-changing-global-industry-nytimes-com\/","og_site_name":"the patient investor","article_publisher":"https:\/\/www.facebook.com\/profile.php?id=61572934660810","article_author":"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","article_published_time":"2012-08-19T00:56:33+00:00","author":"Colin Twiggs","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Colin Twiggs","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/18\/new-wave-of-deft-robots-is-changing-global-industry-nytimes-com\/#article","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/18\/new-wave-of-deft-robots-is-changing-global-industry-nytimes-com\/"},"author":{"name":"Colin Twiggs","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454"},"headline":"New Wave of Deft Robots Is Changing Global Industry &#8211; NYTimes.com","datePublished":"2012-08-19T00:56:33+00:00","mainEntityOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/18\/new-wave-of-deft-robots-is-changing-global-industry-nytimes-com\/"},"wordCount":182,"commentCount":2,"publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"keywords":["automated assembly lines","industrial revolution","robots"],"articleSection":["Economy","The Big Picture"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/18\/new-wave-of-deft-robots-is-changing-global-industry-nytimes-com\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/18\/new-wave-of-deft-robots-is-changing-global-industry-nytimes-com\/","url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/18\/new-wave-of-deft-robots-is-changing-global-industry-nytimes-com\/","name":"New Wave of Deft Robots Is Changing Global Industry - NYTimes.com - the patient investor","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/#website"},"datePublished":"2012-08-19T00:56:33+00:00","breadcrumb":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/18\/new-wave-of-deft-robots-is-changing-global-industry-nytimes-com\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/18\/new-wave-of-deft-robots-is-changing-global-industry-nytimes-com\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/18\/new-wave-of-deft-robots-is-changing-global-industry-nytimes-com\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/thepatientinvestor.com\/"},{"@type":"ListItem","position":2,"name":"New Wave of Deft Robots Is Changing Global Industry &#8211; NYTimes.com"}]},{"@type":"WebSite","@id":"https:\/\/thepatientinvestor.com\/#website","url":"https:\/\/thepatientinvestor.com\/","name":"The Patient Investor","description":"Smart. 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He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-1na","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":6835,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/03\/02\/nations-must-prepare-for-robots-destroying-the-low-skill-job-market-business-insider\/","url_meta":{"origin":5280,"position":0},"title":"Nations Must Prepare For Robots Destroying The Low-Skill Job Market &#124; Business Insider","author":"Colin Twiggs","date":"March 2, 2013","format":false,"excerpt":"This opinion piece from the Economist proposes redistribution on a grand scale to remedy massive unemployment from mechanization of assembly lines. If society wishes to avoid such an outcome, the only real option is redistribution and a lot of it. That, in turn, could be managed in a few ways.\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15101,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/04\/06\/robots-take-over-susanna-koelblin-linkedin\/","url_meta":{"origin":5280,"position":1},"title":"Robots Take Over | Susanna Koelblin | LinkedIn","author":"ColinTwiggs","date":"April 6, 2017","format":false,"excerpt":"From Susanna Koelblin: First large scale shoe robot factory unveiled: Adidas will use machines in Germany instead of humans in Asia to make shoes Adidas, the German maker of sportswear, has announced it will start marketing its first series of shoes manufactured by robots in Germany from 2017. More than\u2026","rel":"","context":"In &quot;Deficit Spending &amp; Employment&quot;","block_context":{"text":"Deficit Spending &amp; Employment","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/deficit-spending-employment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5251,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/14\/how-high-frequency-trading-robots-are-creating-a-bumpy-ride-for-main-street-nasdaq-com\/","url_meta":{"origin":5280,"position":2},"title":"How High Frequency Trading Robots Are Creating a Bumpy Ride for Main Street &#8211; NASDAQ.com","author":"Colin Twiggs","date":"August 14, 2012","format":false,"excerpt":"By Barbara Cohen While HFTs may argue that they bring liquidity to the Market, they cannot dispel the concerns that liquidity comes at a very high price to investors \u2013 increased volatility. In a report issued in September 2011, associate professor Frank Zhang of Yale University stated that once an\u2026","rel":"","context":"In &quot;Trading&quot;","block_context":{"text":"Trading","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/trading\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4776,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/07\/06\/economists-react-how-likely-is-qe3-following-jobs-data-wsj\/","url_meta":{"origin":5280,"position":3},"title":"Economists React: How Likely Is QE3 Following Jobs Data? &#8211; WSJ","author":"Colin Twiggs","date":"July 6, 2012","format":false,"excerpt":"CAPITAL ECONOMICS: QE3 will depend on second-quarter GDP and July\u2019s ISM data because the jobs report was not bad enough to make QE3 \u201ca done deal.\u201d Both GDP and ISM numbers will be released just ahead of the Fed\u2019s next policy meeting. via Economists React: How Likely Is QE3 Following\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1523,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/10\/24\/euro-zone-miserable-euro-pmi-heightens-recession-risk-economists-cnbc\/","url_meta":{"origin":5280,"position":4},"title":"Euro Zone &#8211; &#8216;Miserable&#8217; Euro PMI Heightens Recession Risk: Economists &#8211; CNBC","author":"ColinTwiggs","date":"October 24, 2011","format":false,"excerpt":"The euro zone's manufacturing PMI fell to 47.3 in October, its lowest level since July 2009, with German manufacturing falling for the first time in two years because of a combination of drops in output and new orders and backlogs of work. The fall in euro zone PMI \"reflected steep\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1367,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/10\/17\/a-proven-principle-behind-obamas-jobs-plan-nytimes-com\/","url_meta":{"origin":5280,"position":5},"title":"A Proven Principle Behind Obama\u2019s Jobs Plan &#8211; NYTimes.com","author":"ColinTwiggs","date":"October 17, 2011","format":false,"excerpt":"It wasn\u2019t until the 1940s that economists realized that a balanced-budget stimulus could be effective, too. As I\u2019ve discussed in earlier columns, economists starting with Walter S. Salant and Paul A. Samuelson realized that during a depression or in near-depression conditions, any government expenditure fully funded by taxes will increase\u2026","rel":"","context":"In &quot;US &amp; Canada&quot;","block_context":{"text":"US &amp; Canada","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/us-canada-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/5280","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=5280"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/5280\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=5280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=5280"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=5280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}