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Technological unemployment - Coggle Diagram
Technological unemployment
Causes
Technological oligopoly:
Big technological investment from:
USA and China
Examples:
Amazon
Alibaba
They have economical benefits
They forget about countries in development
They deal with the consequences
Outdated International Tax System:
They don't deal with inequalities between:
Economical devlopment
Developed countries
Skills Mismatch:
Digital technologies develop faster than:
Worker skills
Causes skill demand
Workers cannot retrain their skills fast enough
Fast Technological Change:
Reduce future labor demand
This will change:
Jobs
Wages
Inadequate Tax Systems:
Charges labor more than capital
Less tax:
Per amount produced by automated processes
Consequences
Fiscal Risk:
Decreases the tax revenues of labor
Increases expenditure on social aid
Increased Inequality:
Skill-based divide between:
Professional skills
Digital divide
Due to lack of access
Lack of Minimum Living Standards:
People left out of the economic production
Left to starve
Workforce Outdated Skills:
Workers will need to learn:
Learn new and more advanced skills
To reintegrate into the employment market
More Free Time/ Boredom:
People become:
Bored
Demotivated
Undecided on what to accomplish
Less Demand/ Consumption:
Unemployment may create:
Demand for new products to shrink
Solutions
International Tax Cooperation:
Slow down the adoption of:
New production methods
New Economic Sectors:
Develop sectors like:
Tourism
With human interaction
Unliked to automated soon
Health care
Fiscal Reform:
Mitigate economic effects between:
More-developed worlds
Less-developed world
Companies should pay taxes
When they replace workers with robots
Minimum Income:
Distribute wealth
From the capital owners
To the displaced workers
Charitable Donations:
Donate wealth
Mitigate consequences
Produce Own Goods:
People can produce own essential goods
Change Higher Education:
Schools need to change to:
Retrain workers quickly
Offer certificates and degrees faster
Context
The new technologies
Applied in the economic sector
Without importance to the impact in:
Substitution of people
Or complementing the job
Top issue in the 21st century
Leave persons without a job
Mainly in fields of:
AI
Robotics
It brings economic progress
Increases job:
Quality
Quantity
Impact in each country
Workforce computerization:
US 70% or more
UK 35%
Canada 42%
Germany 42%
Switzerland 48%
Uzbekistan 55%
Brazil 60%
Ethiopia 85%