CPE Notes 02-11-08 - CPE Notes(Review of course up until...

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CPE Notes February 11, 2008 (Review of course up until this point) Markets are changing due to many reasons one of them being changes in technology. This replaces the old "Fordist" form of assembly line production by replacing human labor with artificial intelligence. This makes the production of goods cheaper, more efficient, and faster. This does many things like give you more control over the workforce and also gives you more control of inventory because it is more computerized and organized so there is no need for huge warehouses and storage areas. Basically you get things when you need them. This raises the question how will governments deal with the unemployment that will follow from these technological advances. These advances will only affect people in the manufacturing industry and will not increase unemployment overall. There will be more jobs created in other sectors and industries. The gap of income between skilled and non skilled workers is widening around the world and this is partly due to these technological advances.
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