Study @ Robots will not take over all our jobs
A study shows that the fear may be far-fetched
Today, advanced machines like robots pose a significant threat to jobs traditionally performed by human beings. So it’s no surprise that new technological developments in the market are faced with stiff resistance from interest groups like labour unions. Moreover, there are some economists and others who believe that robots could lead us into a future where there are no jobs left to be done by human beings. How realistic are such fears? What in particular does history tell us about the effect of machines on employment?
These findings should not come as any surprise to anyone familiar with the “lump of labour” fallacy, which makes many ordinary people believe that there is only a fixed amount of work to be done to satisfy human wants. Economists, however, have for long assumed that we live in a world of scarcity, where only limited resources are available to satisfy people’s unlimited wants. If so, while robots and other technological advancements can definitely help people produce a lot more than we ever did in our past, they will never be enough to satisfy all human wants. Thus, fears of machines obliterating human labour may be far-fetched.
Study Available @ https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID3041400_code2678418.pdf?abstractid=2959584&mirid=1
PR Source | The Hindu | 15th May 2018
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Mr. Pralhad Jadhav
Master of Library & Information Science (NET Qualified)
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