Wednesday, September 5, 2012
Technological Unemployment
Technological unemployment is a term used largely by economists to explain a state in which staggering innovational and technological developments result to a lack of jobs. After the industrial revolution that was characterized by manual labor, there were great technological advances made which utilized machines therefore rendering manual labor redundant. Since many factories and mills employed an extensive workforce, lots of people were forced to go home since they were no longer useful. Efficiency and output proliferated although this led to massive unemployment.
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