How Robotics Could Shape the U.S. Labor Market

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Wednesday, March 12, 2014 3:16 pm EDT

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While there is a dialogue about the current employment situation in the country -- who has a job and who needs a job -- there is a part of the story that is being skirted: the role robotics is playing in our labor market.

Economists across the spectrum discuss the role smart machines are playing in the innovation and financial health of our country when the field questions on almost any topic. On Black Monday in 1987, one potential cause for this crash was program trading.  It occurred when Wall Street was first automated during this time many positions were replaced with computers. While we are still a projected 20 years away from a personal robot like Rosie from the Jetsons, robots and computers are playing a more central role in the day-to-day lives of average Americans than ever before.