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Understanding Technological Unemployment - Coggle Diagram
Understanding Technological Unemployment
Introduction
Technological change is one of the top issues
of the 21st century, and it will produce implications in the labor market.
It may ocurr slowly
Meaning of technological unemployment
Unemployment due to our ability to find ways to save the use of work be greater than the ability to find new uses for work.
Past waves of technological change resulted in the reduction of the workforce in specific economic sectors while increasing in others, thus balancing the job market.
Technological unemployment may affect psychologically the people.
Results
Causes of technological Unemployment
Fiscal Risk:
Skills Mismatch
Technological Oligopoly
Fast technological change.
Taxes
Outdated tax systems.
Inadequate Tax Systems:
Lack of Minimum Living Standards:
Workforce Outdated Skills
New Economic Sectors
Less Demand/Consumption:
etc
Consequences
Positve
More free time
Possible reduction in demand.
Creation of possible new economic sectors
Negative
Increased economic inequality
Lack of minimum living standards for a share of the population.
Volatile work offers and salaries.
Loss of a lot of jobs in the short term
Loss of value in colleges degrees
Need for higher education for future jobs.
Conclusions
Automation has happened before in previous industrial revolutions, and its results have been, in general, positive.
It is unkown everything that may happen.
Solutions
Causes
Possible reduction in demand.
It can't always be implemented
Sharing work
Reduced workweek
Technology aversion might motivate the revival of certain occupations
An international tax operation.
Consequences
Basic income guarantees.
Charitable donations.
The production of ones’ own goods.
Change in the social safety systems.
Fiscal reform
Increased integration with the machines.