In the resulting vacuum, protectionism, anti-trade populism, and illiberal - often xenophobic - nationalism have gained ground, fueled by anxieties about stagnant wages, technological unemployment
, and rising insecurity.
cities are more susceptible (or resilient) to technological unemployment
Many economists, now pessimistic about technological unemployment
, accept that the so-called compensation effects of new technologies (i.
History and economic theory, however, suggest that anxieties about technological unemployment
, a term coined by John Maynard Keynes nearly a century ago, are misplaced.
and technological unemployment
will continue to put a growing number of local workers at risk, according to a Korean human-factors expert.
Consider the historical record: If the nightmare of technological unemployment
were true, it would already have happened, repeatedly and massively.
Keywords: Singapore, automation, computerization, industry employment, technological unemployment
However, unlike the 1930s, the technological unemployment
of this decade is likely to be of a far serious order, and one that cuts across every conceivable sector - from e-commerce and manufacturing to banking, agriculture as well as IT services and BPO.
This present conceptual paper contributes to the current debate over robots, technological unemployment
, and youth job futures (see Peters, 2016).
Some argue that IT appears to be advancing much faster than previous technologies, and assert that we are on the verge of a dramatic increase in technological unemployment
(Brynjolfsson and McAfee 2014).
Concerns regarding technological unemployment
spiked during the Great Depression and post-war recessions, but dissipated after economic growth rebounded and unemployment fell to normal levels.
This orthodoxy is now being widely questioned and the possibility of accelerating technological unemployment
has now become a widely debated topic of discussion even among such mainstream organizations as the OECD, World Bank, and the World Economic Forum meetings in Davos, Switzerland (Brinded, 2016).