The great advances in technology in industrialized societies has radically transformed the face of our planet, for good and for bad. Artificial fertilizers ensure high-yielding crops, polio and other diseases have been defeated, and we are conquering outer space. There is an increasing standard of living and people seem to be better off than they have ever been before. But technological progress has also brought with it unforeseen consequences. Unemployment is increasing among many in our society because firms may not consider it cost-effective to retrain the less-educated and older employees.
In this era of increased technological advances, labor is being replaced by knowledge especially at the lower end of the economic spectrum. The technology revolution has eliminated many jobs and continues to eliminate jobs at a rapid pace. We may not have sheep sheering robots as of yet, but advances in research have come up with an injection of natural protein that causes sheep to shed their wool. The pace of the present technological revolution is also far more rapid than any of the fundamental shifts of the past. The shift of labor from
Increased technology has affected how much the average worker produces in an hour. If productivity increases rapidly, it means that the same number of workers working the same number of hours can produce significantly more than they could before. Or, a smaller number of workers could produce the same amount that was produced before.
With increased automation, machines are performing certain tasks formerly done by humans faster and more efficiently. In our fast advancing technological society today, many industries are highly automated or use automation technology in some part of their operation. The widespread use of automation and its influence on daily life is a concern because it is displacing many in the workplace. Automation has greatly increased production and lowered costs, wages have increased, and the work week has been decreased. Not all the results of automation have been positive, however. Increased automation increases unemployment. It is believed by many that a worker who loses his job in one industry will be able to find employment, possibly after appropriate retraining, but that is not necessarily so for the less
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