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Computer technology & employment growth
Descrição
Mind map of the article by Brynjolfsson & McAfee about how computing technology destroys the growth in employment
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mindmap computing technology
employment
unemployment
article
Mapa Mental por
merelvgerven
, atualizado more than 1 year ago
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Criado por
merelvgerven
aproximadamente 9 anos atrás
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Resumo de Recurso
Computer technology & employment growth
Areas of technological change
Financial services
Clerical
Medicine
Retail
Manufacturing
Law
Education
Long term impact of technology
According to history, no long-term trend of eliminating jobs for people
Question? Are computing technologies different and so do create a involuntary long-term unemployment?
Future: Dismal prospects for many types of jobs
Short term impact of technology
Consequences
Elimination of many types of jobs
Rapid technological change has been destroying jobs faster than creating them
Reduce in demand workers
Median income fails to rise even as GDP soars
Advantages
Higher productivity
Entering new market more quickly
Wealthier society
jobs are made easier, safer, faster & more productive
History in technology and employment growth
"Just a shock; workers need to adjust skills and entrepreneurs create new opportunities based on new technologies"
Jobs rebound
No historical patterns show shifts leading to a net decrease in jobs
NO ONE KNOWS; arguments against technology being the cause of unemployment
Labor economists: "Data far from conclusive"
"Are new technologies responsible for the lack of job growth"
"Difficult to extricate the effects from technology from other macroeconomic effects"
"Labor hours are a crucial indication for growth and wealth"
Recent technological change can be different than anything seen before
Watson: "Automization also used to make human workers more efficient, not to eliminate them"
David Autor: "Sluggish growth in employment are one big puzzle, but not a lot of evidence is linked to computers"
"Jobs can change a lot without there being huge changes in employment rates"
Leonard: "On the one hand progress, on the other hand same old problems. The big challenge is uncertainty
"People are still needed to deal with changes in the environment and reacting to unexpected events"
Current situation according to Brynjolfsson & McAfee
GAP: Economic growth and productivity no longer parallel to job creation due to technology
PARADOX: productivity at record levels, innovation never been faster, but falling median income and fewer jobs
People are falling behind, because technology rising too fast and our skills and organizations aren't keeping up
POLARIZATION of the workforce and the HOLLOWING OUT of the middle class
AUTONOMY ECONOMY (internet, data): digital processes talking to other digital processes and creating new ones
ECONOMIC WINNER & LOSERS: rapid acceleration of technological progress has greatly widened the gap between economic winners and losers
Income inequalities
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