Technological unemployment | Wikipedia audio article
Channel: wikipedia tts
Date: 11/01/2019

This is an audio version of the Wikipedia Article:
https://en.wikipedia.org/wiki/Technological_unemployment


00:06:04 1 Issues within the debates
00:06:15 1.1 Long term effects on employment
00:09:04 1.2 Compensation effects
00:14:27 1.3 The Luddite fallacy
00:16:59 1.4 Skill levels and technological unemployment
00:19:48 1.5 Empirical findings
00:22:12 1.6 Measures of technological innovation
00:24:24 2 History
00:24:34 2.1 Pre-16th century
00:28:10 2.2 16th to 18th century
00:30:26 2.3 19th century
00:33:09 2.4 20th century
00:37:22 2.5 21st century
00:37:32 2.5.1 Opinions
00:43:30 2.5.2 Studies
00:54:09 2.5.3 Policy
00:54:36 3 Solutions
00:54:45 3.1 Preventing net job losses
00:54:56 3.1.1 Banning/refusing innovation
00:56:14 3.1.2 Shorter working hours
00:57:51 3.1.3 Public works
00:59:20 3.1.4 Education
01:02:27 3.2 Living with technological unemployment
01:02:38 3.2.1 Welfare payments
01:03:43 3.2.1.1 Basic income
01:08:10 3.2.2 Broadening the ownership of technological assets
01:09:03 3.2.3 Structural changes towards a post-scarcity economy
01:10:13 3.3 Other approaches
01:12:26 4 See also



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SUMMARY
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Technological unemployment is the loss of jobs caused by technological change. Such change typically includes the introduction of labour-saving "mechanical-muscle" machines or more efficient "mechanical-mind" processes (automation). Just as horses employed as prime movers were gradually made obsolete by the automobile, humans' jobs have also been affected throughout modern history. Historical examples include artisan weavers reduced to poverty after the introduction of mechanized looms. During World War II, Alan Turing's Bombe machine compressed and decoded thousands of man-years worth of encrypted data in a matter of hours. A contemporary example of technological unemployment is the displacement of retail cashiers by self-service tills.
That technological change can cause short-term job losses is widely accepted. The view that it can lead to lasting increases in unemployment has long been controversial. Participants in the technological unemployment debates can be broadly divided into optimists and pessimists. Optimists agree that innovation may be disruptive to jobs in the short term, yet hold that various compensation effects ensure there is never a long-term negative impact on jobs,  whereas pessimists contend that at least in some circumstances, new technologies can lead to a lasting decline in the total number of workers in employment. The phrase "technological unemployment" was popularised by John Maynard Keynes in the 1930s, who said it was a "only a temporary phase of maladjustment". Yet the issue of machines displacing human labour has been discussed since at least Aristotle's time.
Prior to the 18th century both the elite and common people would generally take the pessimistic view on technological unemployment, at least in cases where the issue arose. Due to generally low unemployment in much of pre-modern history, the topic was rarely a prominent concern.  In the 18th century fears over the impact of machinery on jobs intensified with the growth of mass unemployment, especially in Great Britain which was then at the forefront of the Industrial Revolution. Yet some economic thinkers began to argue against these fears, claiming that overall innovation would not have negative effects on jobs. These arguments were formalised in the early 19th century by the classical economists. During the second half of the 19th century, it became increasingly apparent that technological progress was benefiting all sections of society, including the working class. Concerns over the negative impact of innovation diminished. The term "Luddite fallacy" was coined to describe the thinking that innovation would have lasting harmful effects on employment.
The view that technology is unlike ...