How Technological Advances in Automation Affect Unemployment

When the word technology is mentioned, a vast majority of the population envision an increase in the level of society with innovative new advancements that will guide them into a new millennium and towards a positive, future economy. In order to achieve this level of economic welfare, growth is necessary. One of many aspects of economic growth calls for an increase in technology. Technological advances are important to any society to grow, big or small. However, not everyone shares this image of a glorious new future when the word technology is uttered. They see an image of a vast machine that replaces manpower and takes over their jobs. Massive assembly line machinery and a newer kind of automated technology: self automated machines. Some examples are pay at the pump gas stations and self-checkouts. This paper will examine different types of automation; discuss how it affects unemployment and what that means to a full employment economy.
Automation is a system of manufacturing ...