TECHNOLOGY AND EMPLOYMENT by Alden Wright
Friday, February 24th, from 12 to 1 PM in SS 362.
The last decade (2000 – 2010) saw no net job creation in the US. The most likely reason is job destruction by technology, and the problem is likely to get worse.
I will give examples of current and likely near future job loss due to technology. These will include driverless cars and trucks, legal discovery, and automated fast food. The exponential improvement in the price/performance of digital technology (as evidenced by Moore’s law) is continuing which suggests even more job loss due to automation and technology in the future.
MIT economists Erik Brynjolfsson and Andrew McAfee have published “The Race against the Machine” concerning the effects of technology on employment. I will present their economic arguments that technology is “accelerating innovation, driving productivity, and irreversibly transforming employment and the economy”.