Friday, December 2, 2011

Technology is not the cause of rising unemployment

In recent news, there has been this reoccurring idea that technology and its resulting productivity growth have been increasing unemployment rates. However, this idea has been disputed by many reports and articles. Technology does in fact displace jobs, but it is the low-skilled , low-waged jobs that are being displaced. Technology has been creating higher productivity jobs, resulting in positions that have higher salaries. This is similar to what had happened during the second industrial revolution. This article argues that the real cause of unemployment may be related to a decline in the global competitiveness of the U.S. In recent years, China has begun to compete with the U.S. in regards to lower prices in consumer electronics and apparel.

http://www.huffingtonpost.com/dean-garfield/tech-industry-jobs_b_1119117.html



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