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mepca: A Call to (Robotic) Arms
23 September 2019
In their robotics focussed study carried out in 2015, Graetz and Michaels concluded that robot densification increased the annual growth of GDP and labour productivity by about 0.37% and 0.36% respectively across 17 countries studied between 1993 and 2007. While this doesn't sound a lot, it represents 10% of the total GDP growth in these countries over the period and compares well with the 0.35% estimated total contribution of steam technology to British annual labour productivity growth between 1850 and 1910.