The Impact Of Automation

Introduction For many centuries, technology has encouraged growth: through increases in inequality and the market labor. Economists say that structural unemployment “occurs because workers don’t have the particular skills demanded by employers.” (Structural Unemployment: The Economists Just Don 't Get It. (2010, August 4)) There are many who question if technology has indeed raised or increases structural unemployment or if it hasn’t worsened the situation (by machinery taking over the jobs of humans for example or jobs that need a particular set of skills). But let’s say that technology changes do increase structural unemployment, why do most governments and economists encourage such change? This I will answer below.

The idea of a new implementation of redistributing wealth created by the robotic and digital economy, focus on ways to expand jobs and boost workers compensation can be set in motion.The biggest challenge is how to take our high-tech economy, and offer ordinary people the reality of jobs with decent wages and compensation ushering in progress. A Robotic Futures Pros and Cons Through the years, techonology has created and destroyed jobs for blue collar employees, the creation of new manufacturing process in the 18th century developed new jobs but also required less employees to operate its new technological advances, leaving a hand select group, unemployed. You can argue the type writer or the Personal Computer (PC) created jobs, and revolutionized efficiency, but over time, the PC took... ... middle of paper ... ...placing of hundreds to thousands of citizens at times. A solution of tax credits to families, Earned Income Tax Credit (EITC) is not a solution to the real problem, it's only a patch job on a sinking ship. This is why Ferrall states " The challenge of our high-tech economy is how to take a hefty slice of wealth from the machines and offer ordinary people the reality of jobs with decent wages and compensation.

However robots may reduce job opportunities for humans if they outsmart them, and the issue with the robots is how it will affect our future as to how will scientists plan to go with such technology. This essay will discuss a number of disadvantages that arise with the engagement of artificial intelligence, including the ethics and morals behind such evolution. There has been a great use of large amount of money investment methods in production of goods and services. This use of machines has enormously reduced the number of employees, because there is an increase machine’s efficiency. This is because a single machine can perform more tasks therefore replacing many employees who could have been hired to carry out the same task, this means that one machine can do several different duties in an efficient way without taking a break or receiving a salary.

One way is that structural unemployment occurs because some labor markets have more workers than there are jobs available, and for some reason wages don 't decrease to bring the markets into equilibrium. Another way to think about structural unemployment is that structural unemployment results when workers possess skills that aren 't in high demand in the marketplace and lack skills that are in high demand,”(Beggs). To sum things up, structural unemployment occurs when someone has outdated skills or doesn 't have the right skill to search for work. For example, the computer science business is currently booming and will continue to grow because of how dependent we are as a society on technology. As a result we are making advancements in technology more quickly with each passing invention.

Technology may be growing, but it is also creating new jobs and allowing America to fight back. Ultimately the economic growth created by new jobs always overwhelms the drag from jobs destroyed- if policy makers let it happen (Kessler 332). Works Cited Kessler, Andy. “Is Your Job an Endangered Species?” Reading & Writing in the Academic Community. Ed.

International employment struggle has lead to fewer jobs due to the fact to an increase in competition. The author paraphrase this by saying, "Global competition is usually given as the reason for smaller workforce requirements…" Meanwhile while the international struggle is occurring there are numerous technological improvements, which are consequently leading to employee lay-offs, "…while it is claimed, technological developments, especially computerization, have led to massive employee lay-offs with no loss to productivity." The third point and question the author imposes is, "Will school grantee a job?" Endless amounts of students each year entering college or university place their trust in the education system blinding, thus not taking a risk in seeking jobs while studying or taking various other courses to give them diverse skills. This is seen when the author says, "Many students place so much trust in the educational system that they fail to look onward to life beyond graduation."

Many of the machines created are very advanced and to get a worker to learn how to operate the machine costs a great deal of many therefore many business prefer to use people with a higher level skill background in order to ensure the money they invest in the worker is worth it. Since technology is new and quickly advancing, many business prefer to train the younger generations. This is so that they may advance with the technology and find ways of improving it to make it much better. This means that the older generations odds of getting a job decreases even more. The older generations may ... ... middle of paper ... ... be more skilled when it comes to technology.

Disadvantages of Technology Loss of Jobs Modern technology has replaced many humans; robots are doing the jobs which used to be done by humans. While robots increase production and efficiency, a number of low to middle level jobs that require no particular specialization are lost, as machines replace the human capital. Five million jobs in the world’s leading economies could disappear over the next five years because of advances in technology (Kottasova, 2016). Countries will have to invest in transforming their workforce if they want to keep up with the changes and avoid talent shortages, mass unemployment and growing inequality. Investment in education and adult learning programs need to be made to keep up with advancing technology.

When looking at the increasing rate of Unemployment, Automation usually is what people blame for what’s wrong with the world considering it is an industry where machines can do what men cannot faster and more efficient. Nevertheless, Automation is a rich industry that constructed new jobs and markets to the world. Markets like Steel, automobile and aluminum are industries that with the help of automation opened thousands of doors and job opportunities. It is true that machines nowadays can do what a group of men can do in a record breaking tim... ... middle of paper ... ...em and prepare them for the new demands of the industry. Other solutions can be providing medical coverage for them.

“The New Division of Labor” by Frank Levy and Richard Murnane. 2. “Age of spiritual machines: When computers exceed human intelligence” by Ray Kurzweil. ... ... middle of paper ... ...nd again resulting in creation of bigger markets and pulling large competitors and creating new job opportunities, but the problem is with undefined factors like outsourcing, lack of skill development in respect with technology advancement. Technology advancement may be causing huge impact on employment but it is also making human living better.