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Do technological advances result in higer unemployment?
8 Answers
- 6 years agoFavorite Answer
In most fields yes. Im in New York city & with the placement of metro card machines used for trains & buses it has damn near put all booth workers out of business. The same thing can be seen with downloading music on smart phones. How many CD stores are still open? How about with DVD movies. How many VHS are being made? How about with Netflix??? When was the last time you rented a movie from your nearest blockbuster?
- random_manLv 76 years ago
I don't believe technology results in higher unemployment overall, when looked at over time. If it did, we would have far, far higher unemployment today than we did decades ago, because there have been so many technological advances, yet, unemployment rates have tended to remain in a limited range - although they fluctuate up and down, they haven't generally climbed over time.
Having said that, technology can certainly be disruptive, and cause changes in the type of employment we have. For example, 50 years ago, many, perhaps a majority of Americans worked in manufacturing. Today comparatively few do. Some of this is due to manufacturing moving overseas, but an equally significant impact has been technology and mechanization. US Manufacturing hasn't gone away, but it's not the jobs engine it once was, because today's factories employ maybe 1/10th of what they used to.
For an even more dramatic comparison, look at agriculture. 100 years ago, a majority of americans worked in ag. Now it's about 2%. The reason: mechanization and technology.
But for all the disruptive influence of technology, it creates new jobs. Look at how many people work in high-tech and computer industries. Most of those jobs didn't even exist a few decades ago. If you look at the NASDAQ or DJIA, many companies on it weren't even created until the last 20 years or so.
So while technology can be highly disruptive, I don't think employment is zero-sum. I think new jobs are created as old ones are made redundant.
It does have social impacts. Many of the new jobs created require higher levels of education. This creates the danger of having an entire population of people with less education being left behind in the economy. And we're seeing that. It used to be that you could get a decent middle-class job without even a HS diploma. That's no longer the case.
So that's a long answer, but in short, No, I don't think technology creates higher unemployment, but it does change the labor market and society in significant ways.
- Anonymous6 years ago
Depends
- 6 years ago
Unemployment of affected industries. That is true but it is necessary for progress. There's always jobs available the question is how to monetize it.
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- DeinoLv 76 years ago
Probably.
But they also pave the way for careers and opportunities that didn't exist before, so totally new jobs are created.
- Spock (rhp)Lv 76 years ago
not so far and the Luddites have been claiming that for several hundred years now
- Anonymous6 years ago
No