Maintaining Wealth Redistribution in the Age of Computing and Robotics

Maintaining Wealth Redistribution in the Age of Computing and Robotics

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Running head: WEALTH REDISTRIBUTION AND ROBOTICS 1 Maintaining Wealth Redistribution in the Age of Computing and Robotics Name Institution
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WEALTH REDISTRIBUTION AND ROBOTICS 2 Maintaining Wealth Redistribution in the Age of Computing and Robotics. Topic Issues and Sources The increased adoption of robotic technology in varied sectors of the American economy has caused an increased trend of a disappearance of menial and middle-income jobs. This trend threatens the living standards of middle-class workers. Considering the trend in robotic development recent years, more industries and high-risk production initiatives will adopt robots for their work going into the future. Robots promise to create some economic utopia in the end though it will surely take up most physical and ordinary jobs. Industries are transforming daily as technology grows. Banking and retail businesses have increasingly become fast, creating an expansive digital economy. This amazing transformation brought with it production efficiency in the workplace and increased development of the robotic. The great concern associated with robots is its replacement of workers in different economy sectors. For purposes of this research, our work will rely on the following sources. Manning, A. (2004). We Can Work It Out: The Impact of Technological Change on the Demand for Low Skill Workers. Scottish Journal of Political Economy, 51(5), 581- 608.
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