Will Robots Take Our Jobs?

in LeoFinance3 months ago

if ten people work on a farm and are responsible for feeding animals but all of a sudden the farm owner requires machines and automates the process those people can be considered technological and employment victims as the name suggests technological unemployment describes situations involving people who become unemployed as a result of being in one way or another replaced by technology an obvious question arises is technological unemployment a problem well in the short run yes and in the long run it depends to illustrate this here are two scenarios one an optimistic scenario for example what happened after the first Industrial Revolution when there was indeed a short-term pain and massive job loss in the let's say exile or agriculture industry but in the long run more than enough new jobs were created to offset that job loss to Assam istic one such as scenarios some economists envision when it comes to the current Industrial Revolution where a technological revolution destroying more jobs than it creates paving the way for potential social unrest brought about by the resulting technological unemployment this much is certain for optimists and pessimists alike technological unemployment is a topic that deserves to be studied thoroughly