Even in the future, the raw materials in machinery won't magically get cheaper.
True, and raw materials will probably get more expensive. Another thing to consider, however, is that newer industrial techniques might not even be employable without the use of machines. For instance, humans can't make processors regardless of how cheaply their willing to be payed.
For some industries the upfront costs associated with automation won't be worth it for a long, long time
Right. It's always going to be a cost benefit analysis and I think that's a fair assessment.
True, and raw materials will probably get more expensive. Another thing to consider, however, is that newer industrial techniques might not even be employable without the use of machines. For instance, humans can't make processors regardless of how cheaply their willing to be payed.
For some industries the upfront costs associated with automation won't be worth it for a long, long time
Right. It's always going to be a cost benefit analysis and I think that's a fair assessment.