Are workers being displaced by technology? - created from Mind Map

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Why? Brynjolfsson and MacAfee give an explanation: TECHNOLOGY

Brian Arthur's "Autonomous economy"

David Autor's "Polarization of the workforce"

Lawrence Katz and the expansion on production

Empirical evidence: Robots

Conclusions

Since 2000: Job creation has stagnate, even having a great increase in productivity

Historically: Productivity growth and job creation had the same profile

"Great decoupling"

Digital processes created by other digital processes, without human intervention

Explains how productivity has increased without creating jobs

Technology doesn't reduce the overall demand for jobs, it just redistributes it

*There is not enough evidence of productivity growing at a higher rate than job creation

Increase demand for high and low income jobs Reduce demand for middle income jobs

The apparent decrease in job creation may be explained by a period of adaptation to the new demand

Increases in productivity can have 2 causes:

Keep production constant and reduce the labour used

Keep labour constant and increase production

Technology doesn't replace workers, it increases workers efficiency

Manufacturing and industrial sector

Services sector

Robots are useful in certain tasks that people don't want to do

Workers are still needed. They are better reacting to unexpected events

Robots and workers may be seen as complements rather than substitutes

Artificial intelligence and big data set have given some robots the ability reason and solve problems almost just like a human

Robots may substitute workers

Technology increases the gap between economic winners (high income) and losers (low income)

It is important to recognize the problem and fix it somehow

Disappearance of the middle income jobs

Increase the investment in education and training