Technological unemployment
Technological unemployment is the loss of jobs caused by technological change. Such change typically includes the introduction of labour-saving machines or more efficient processes. Historical examples include mechanization and automation.
History[edit | edit source]
Technological unemployment has been a subject of discussion among scholars since the Industrial Revolution of the 18th and 19th centuries. The term itself was popularized by John Maynard Keynes in the 1930s, who believed it was a temporary phenomenon that would eventually self-correct.
Causes[edit | edit source]
Technological unemployment is primarily caused by labour productivity improvements. These improvements are typically brought about by technological innovations, which can lead to higher output per worker. The result is that fewer workers are needed to produce the same amount of goods or services, leading to job losses.
Effects[edit | edit source]
The effects of technological unemployment can be both positive and negative. On the positive side, it can lead to increased productivity and economic growth. On the negative side, it can lead to job losses and increased income inequality.
Solutions[edit | edit source]
Various solutions have been proposed to address technological unemployment. These include education and training, income redistribution, and job creation policies.
See also[edit | edit source]
Search WikiMD
Ad.Tired of being Overweight? Try W8MD's physician weight loss program.
Semaglutide (Ozempic / Wegovy and Tirzepatide (Mounjaro / Zepbound) available.
Advertise on WikiMD
WikiMD's Wellness Encyclopedia |
Let Food Be Thy Medicine Medicine Thy Food - Hippocrates |
Translate this page: - East Asian
中文,
日本,
한국어,
South Asian
हिन्दी,
தமிழ்,
తెలుగు,
Urdu,
ಕನ್ನಡ,
Southeast Asian
Indonesian,
Vietnamese,
Thai,
မြန်မာဘာသာ,
বাংলা
European
español,
Deutsch,
français,
Greek,
português do Brasil,
polski,
română,
русский,
Nederlands,
norsk,
svenska,
suomi,
Italian
Middle Eastern & African
عربى,
Turkish,
Persian,
Hebrew,
Afrikaans,
isiZulu,
Kiswahili,
Other
Bulgarian,
Hungarian,
Czech,
Swedish,
മലയാളം,
मराठी,
ਪੰਜਾਬੀ,
ગુજરાતી,
Portuguese,
Ukrainian
WikiMD is not a substitute for professional medical advice. See full disclaimer.
Credits:Most images are courtesy of Wikimedia commons, and templates Wikipedia, licensed under CC BY SA or similar.
Contributors: Prab R. Tumpati, MD