Technological unemployment

Technological unemployment is the loss of jobs caused by technological change. Such change typically includes the introduction of labour-saving machines or more efficient processes. Historical examples include mechanization and automation.

History

Technological unemployment has been a subject of discussion among scholars since the Industrial Revolution of the 18th and 19th centuries. The term itself was popularized by John Maynard Keynes in the 1930s, who believed it was a temporary phenomenon that would eventually self-correct.

Causes

Technological unemployment is primarily caused by labour productivity improvements. These improvements are typically brought about by technological innovations, which can lead to higher output per worker. The result is that fewer workers are needed to produce the same amount of goods or services, leading to job losses.

Effects

The effects of technological unemployment can be both positive and negative. On the positive side, it can lead to increased productivity and economic growth. On the negative side, it can lead to job losses and increased income inequality.

Solutions

Various solutions have been proposed to address technological unemployment. These include education and training, income redistribution, and job creation policies.

See also

• Luddite
• Creative destruction
• Future of work
• Automation

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