Drives and Controls (magazine):
Robots have 'contributed 10% to GDP growth' since their arrival
1 September 2015
The economic benefits of industrial robots installed since the early 1990s have been similar to those of the railways in the 19th century, US highways in the 20th century, and information and communications technologies more recently, according to a new analysis by two economics professors. Georg Graetz of Uppsala University in Sweden and Guy Michaels from the London School of Economics analysed statistics across 14 industries in 17 developed countries and found that robots have made a 'substantial' contribution to productivity and growth.
The article was featured in Drives & Controls Magazine published September 1, 2015
Link to article here
Related publications
Robots at work: the impact on productivity and jobs, Georg Graetz and Guy Michaels. Article in CentrePiece Volume 20, Issue 1, Summer 2015
'Robots at Work', Georg Graetz and Guy Michaels, Centre for Economic Performance Discussion Paper No.1335, March 2015
Related links
Georg Graetz webpage
Guy Michaels webpage
Labour Markets Programme webpage