Is Technology Eroding Employment?

First time accepted submitter Idontpostmuch writes "The idea that technology cannot cause unemployment has long been taken as a simple fact of economics. Lately, some economists have been changing their tune. MIT research scientist Andrew Mcaffee writes, 'As computers and robots get more and more powerful while simultaneously getting cheaper and more widespread this phenomenon spreads, to the point where economically rational employers prefer buying more technology over hiring more workers. In other words, they prefer capital over labor. This preference affects both wages and job volumes. And the situation will only accelerate as robots and computers learn to do more and more, and to take over jobs that we currently think of not as "routine," but as requiring a lot of skill and/or education.'" Note: Certainly not all economists agree "that technology cannot cause unemployment," especially in the short term. From a certain perspective, displacing labor is a, if not the, central advantage of technology in general.

Comments

Re:Modern Luddites

[Anonymous Coward]

Yeah, so ridiculous, it's what happened for the last 6 decades and still happens in Europe.

Compleeetely impossible... riiiiight!

Ameritards, you are so brainwashed into extremist capitalism (= in essence, raping yourselves, and *liking* it, and even defending it against your saviors), you don't even realize you're brainwashed!

Re:Modern Luddites

[rickb928]

If this state would fund highway developent adequately so my evening commute was as quick as my morning commute, it would multiply my happiness.

It would take money, however, and time, and other resources. And ignoring the environmentalists. And abetting the car culture. And accepting that I do what I do for a reason, and not trying to tell me to do something else because it makes more sense to you, or suits your needs and desires, ad my government.

Oh, we were talking about corporations? Sorry, I was focusing on the real problem. Got lost there.