"Everyone should be able to benefit from productivity gains—in that, Keynes was united with his successors. His worry about technological unemployment was mainly a worry about a 'temporary phase of maladjustment' as society and the economy adjusted to ever greater levels of productivity. So it could well prove. However, society may find itself sorely tested if, as seems possible, growth and innovation deliver handsome gains to the skilled, while the rest cling to dwindling employment opportunities at stagnant wages."
The Economist discusses the danger of "technological unemployment."
Saturday, January 18, 2014
"A 'Race between Education and Technology'"
Labels:
class,
deindustrialization,
economic history,
eighteenth century,
industrialization,
Keynes,
labor,
nineteenth century,
social history,
technology,
twentieth century,
twenty-first century
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