The Enduring Paradox of Technological Unemployment

Technological unemployment, the displacement of human labor by automation and technological advancements, has been a recurring concern since the Industrial Revolution. While technological progress demonstrably elevates overall productivity and fosters economic growth, the distribution of these benefits is often uneven, leading to cyclical periods of job displacement and social unrest. Economists broadly agree that, in the long run, new technologies create more jobs than they destroy. This phenomenon, known as compensation theory, posits that technological innovation stimulates demand, spawning new industries and occupations. However, this macro-level equilibrium masks the micro-level disruptions experienced by individuals whose skills become obsolete. The inherent challenge lies in the temporal disparity between job displacement and job creation. Displacement occurs rapidly, while the emergence of new opportunities requires significant investment in education and retraining, often lagging behind the pace of technological change. Furthermore, the skills required for these emerging roles are frequently different from those displaced, exacerbating the challenge. Consequently, policymakers grapple with mitigating the negative impacts of technological unemployment through proactive measures such as investing in vocational training, providing income support, and promoting lifelong learning to ensure a more equitable distribution of the benefits derived from technological progress.

Câu hỏi luyện tập

1. According to the passage, what is the primary challenge associated with technological unemployment?

2. Which theory suggests that new technologies ultimately lead to the creation of more jobs?

3. What is one proactive measure that policymakers employ to address the adverse effects of technological unemployment?

4. The passage indicates that the skills needed for new jobs are often _____ from those displaced.

5. The author's tone in this passage can best be described as:

6. According to the passage, technological progress demonstrably _____ overall productivity.

7. What is fostered by technological progress, according to the first paragraph?

8. Which of the following is presented as a policy lever for mitigating the impacts of technological displacement?

Chia sẻ bài viết

Facebook Twitter