Word: microprocessor
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Dates: during 1980-1989
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...technological, the development in the mid-'60s of the microprocessor, a computer so small that it can be fitted onto a silicon chip no bigger than a pea. As the computer shrank in size and cost, it suddenly became practical as the brains to run a robot. The second development was wage inflation. Two decades ago, a typical assembly-line robot cost about $25,000; that, plus all operating costs over its eight-year lifetime, amounted to about $4.20 an hour, slightly more than the average factory worker's wages and fringe benefits. Today that typical robot costs...