Post
Topic
Board Economics
Re: Technological unemployment is (almost) here
by
josephliton
on 17/06/2015, 17:53:04 UTC
The faster the rate of the technological progress, the larger the portion of the labor force that is in this transitional state. Also, when technology eliminates a whole job category there is often a period of education for the jobs that remain.  What is lost in much of the contemporary discourse is this ephemeral nature of technological unemployment.  Keynes did not condemn 'technical efficiency' but rather posited that it could happen too quickly.