There has been a rising concern about how the increase of robots might negatively affect the job market as the human population keeps on increasing . But on the other hand, some economists believe that robots will actually save the global economy as it doesn't depend on the number of people but the rate of population growth. The article talks about how the population growth has seen a decrease as women are having fewer children so the fewer people are entering the workforce and there is a decrease in labor growth worldwide. In the past use of technology has usually proved to be beneficial to growth as the article also states, "After the introduction of supermarket scanners, the number of cashiers grew. Though legal-discovery software appeared to threaten the jobs of paralegals, their ranks increased, too. ". If there was a negative impact of using artificial intelligence or advanced technology in industries we would have seen the decline in growth already but after 2008 job growth in industrial countries have been more than the other countries. According to the article, "In the Group of Seven, the world’s top industrial countries, unemployment has fallen faster than expected in the face of weak economic growth, and faster than in any comparable period since at least the 1970s". Only time will tell if economists will start including robots in the working age population.
Link :
https://www.washingtonpost.com/posteverything/wp/2016/12/02/robots-wont-kill-the-workforce-theyll-save-the-global-economy/?utm_term=.60cdd1d473c4
It is important to look at the markets that would be created by a rise in robotics. After first thought, most people see robotics causing a detriment to the global economy but after analysis it is important to note the benefits of this innovation.
ReplyDeletePeople are concerned about robots taking over their jobs, however, from a consumer standpoint, people are also looking for the most newly innovated products. I feel like consumers like efficiency look for advances in technology. So while people could definitely lose jobs due to an increase of robots, I agree with the above comment. There could be benefits from innovation that in the long run, might even create new jobs.
ReplyDeleteAnother interesting piece that might come into play as a result is the idea of a basic income. Everyone would receive some sustenance level of income and any additional income would require a job.
ReplyDeleteGenerally speaking tech advance like computing/machinery has made people more efficient and thereby quality of life higher.
ReplyDeleteHowever there's also the reality that low hanging fruit comes first, and that at some point the machines will overwhelm the ability of operators, and the ability of machines have their own limits.