If technology is the cause of unemployment, obviously the solution is get rid of all technology.
In fact, all unemployed people need to do is go to where there is no technology. I'm sure they will find plenty of work to do.
The fact is that technology creates wealth. Cheap goods and services delivered by technology raise quality of life even for the poorest way beyond even the top dog in a technology-free society.
The availability of technology make it possible for work to produce a lot. And the availability of capital makes it possible for workers to earn high salaries. Workers can borrow money and buy the same technology and compete with their former employers. So you have to pay them much more than you would if there were no technology.
Technology gives everybody more options. Today, anybody can find enough money lying around to match the average standard living people enjoyed 200 years ago. All you need to do is collect bottles.
Unemployment is a problem in the labor market. In markets, prices go up and down so supply and demand equalize. There are many things in the labor market preventing this. The costs of hiring and later firing an employee are too high.
The labor market for low wage workers won't function properly until these costs are addressed. But many people think the solution is to make employers pay even more. Too many people don't realize how markets work.
In fact, all unemployed people need to do is go to where there is no technology. I'm sure they will find plenty of work to do.
The fact is that technology creates wealth. Cheap goods and services delivered by technology raise quality of life even for the poorest way beyond even the top dog in a technology-free society.
The availability of technology make it possible for work to produce a lot. And the availability of capital makes it possible for workers to earn high salaries. Workers can borrow money and buy the same technology and compete with their former employers. So you have to pay them much more than you would if there were no technology.
Technology gives everybody more options. Today, anybody can find enough money lying around to match the average standard living people enjoyed 200 years ago. All you need to do is collect bottles.
Unemployment is a problem in the labor market. In markets, prices go up and down so supply and demand equalize. There are many things in the labor market preventing this. The costs of hiring and later firing an employee are too high.
The labor market for low wage workers won't function properly until these costs are addressed. But many people think the solution is to make employers pay even more. Too many people don't realize how markets work.