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Both viewpoints are half correct. Automation eliminates low skilled, low paying jobs and replaces them with a smaller number of higher skilled, higher paying jo
by apatters 8y ago
Both viewpoints are half correct. Automation eliminates low skilled, low paying jobs and replaces them with a smaller number of higher skilled, higher paying jobs.
Whether this is good for society or not depends on the difference between the rate of automation and the rate of skills gain within the population. So the better your education system, the more fluid your labor pool etc. the faster your society can absorb changes caused by automation and move everyone up the wages and skills ladder. But too much automation in the absence of these things will lead to unemployment and social unrest.
Automation also tends to concentrate wealth within the owner/capital class and this can become a problem if left unchecked.