What is the meaning of technological unemployment?
How will technological progress affect the employment of workers?
- People who use the term typically expect that technological progress will have no long term impact on employment levels, and eventually will raise wages for all workers, because progress helps to increase the overall wealth of society. The term is based on the early 19th century example of the Luddites.
What is an example of a technological advancement in human history?
- Historical examples include artisan weavers reduced to poverty after the introduction of mechanized looms. During World War II, Alan Turing 's Bombe machine compressed and decoded thousands of man-years worth of encrypted data in a matter of hours.
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