http://chronicle.com/article/Robots-Arent-the-Problem-/138007/
This article discusses a common economic talking point - the merit or demerit of mechanization and the coming of 'robots'. It mentions the two polar opposite views on the topic. One side believing that the march of technology will bring utopia and improve standards of living while the other side believes that the result will be a dystopic future with many people losing their jobs and class divides becoming exemplified and strengthened.
It then discusses how these two polar views do not present a complete picture of the issue at hand. While mechanization destroys some jobs, it creates others and opens options that could potentially raise overall living standards and reduce wealth divides. The question all comes down to how we handle the unavoidable advances in technology that will continue to expand mechanization.
This article discusses a common economic talking point - the merit or demerit of mechanization and the coming of 'robots'. It mentions the two polar opposite views on the topic. One side believing that the march of technology will bring utopia and improve standards of living while the other side believes that the result will be a dystopic future with many people losing their jobs and class divides becoming exemplified and strengthened.
It then discusses how these two polar views do not present a complete picture of the issue at hand. While mechanization destroys some jobs, it creates others and opens options that could potentially raise overall living standards and reduce wealth divides. The question all comes down to how we handle the unavoidable advances in technology that will continue to expand mechanization.
I can see both sides to the debate. These machines have the potential to improve productivity and increase output by a drastic amount, but that the same time can definitely hit the unemployment rate, impacts job searchers, and probably increase the amount of discouraged workers. It is difficult to determine whether they should avoid these big technology advances or go with them, pros and cons to both sides.
ReplyDeleteI think the increased usage of robots will positively affect the economy. They will allow productivity to increase as well as create new jobs. As technology continues to develop and improve, the economy should learn how to develop with it. If it is allowed to, I think the increased use of technology will bring with it an increase in the standard of living.
ReplyDeleteIt will be foolish to assume just one side of the argument and cling to it strongly but I must say that i side a bit with the pessimists. I think the increased use of technology will lead to a change in the types of jobs present in the economy and although it will lead to an improvement in the productivity of the economy as a whole, it will also increase inequality. There will become an economy with varying classes of workers in which the few with the adequate knowledge and capacity to manage the machines would excel and live very good lives while those without the technical know-how or training would be in competition with robots for the few physical jobs. The robots will follow the rules and commands of their programmer and do not make mistakes. They will ultimately be more efficient producers than humans. I know this sounds like the kind of conspiracy theories that a lot of futuristic movies are based on but unless technology expands to create new ways to fully engage the less tech savvy among us, there is a possibility this could happen.
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