Technological Unemployment Quotes
Actually during this period, automation and other forms of technological unemployment have been far more responsible for the loss of good jobs in America than offshoring which has been far more responsible than competition from immigrants.
Technology has always displaced and replaced workers, but most industrial technological breakthroughs, in the long run, have created new jobs and better paid ones. What worried Gompers did not appear to materialize in his lifetime, but actually became and issue on the later years of the 20th century and the early 21st century where the computer the robot, and the sophisticated software began to replace workers at a faster rate than new opportunities were created. Gompers was one of the harbingers of things to come.
The Grammar Curmudgeon
In the Great Recession, the industrial production had improved much by 2012—the 4th year of the Obama administration. However, technology and automation were displacing workers. At the time, the U. S. was producing the same amount as before the Great Recession only it was being done with 5 million fewer workers.
One problem critics have with his argument is that while there is always work to be done, there are not always entities willing to pay for the additional work. Gains in productivity will justify investment in more rapid deployment of technology; thus entities in society are will to invest the funds. But if there is no visible economic return from the additional work, corporations and taxpayers may be unwilling to fund it leading to massive unemployment and instability.
Computers, robots have replaced many more American workers than those who lost their jobs by having them replaced by foreign labor. Ironically, even in counties like China, South Korea, and a number of others, have "liost" millions of jobs to automation thenselves.
