Untitled document.docx - The growth of innovative...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
The growth of innovative technologies result in more unemployment in the economy. Agree or Disagree. We can all agree that technological advancement have effect on the labour market. Does it increase employment rate or dampens employment opportunity for present and future generations? According to bureau of labour statistics Decades ago, renowned economists John Maynard Keynes and Wassily Leontief foretold a time when artificial intelligence would produce “technological unemployment.” In their view, labor would become less important and workers would be replaced by machines. Science fiction writers often capitalize on plots where robots take over tasks traditionally performed by humans. In such a scenario, what would be the implications on today’s labor market? According to “Robots and jobs: evidence from US labor markets” (National Bureau of Economic Research working paper no. 23285, March 2017) by Daron Acemoglu and Pascual Restrepo, the use of industrial robots may reduce employment and wages in the U.S. economy. According to these analysis technology can have a negative and positive effect on wages and employment from increasing the number of robots into the economy. The negative effect is that robots displace current workers from their occupations. The positive effect is the price-productivity effect. Increasing the
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern