Technological Employment Debate

tags: unemployment

A Yale researcher is on the record about technological unemployment:

Thanks to the efficiency of the internet and automated systems, productivity and GDP have grown during the last few decades, but the middle class and jobs are disappearing.

This might not be news, except for a rebuttal which appeared right after (by Jim Edwards, also a writer for Business Insider):

At worst, there is no correlation between the invention of new technologies that come into wide consumer use, and the employment rate. At best, new tech seems to have coincided with a series of cycles that have driven down unemployment.

[…] The point is, we’ve always adopted new technologies, and unemployment obeys its own cycles governed by overall economic growth, not tech.

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