Net Job Creation in an Increasingly Autonomous Economy: The Challenge of a Generation
17 citations recorded by the source corpus.
One of the world’s most pressing concerns in the next few decades will be job creation. The biggest cause for concern may be the accelerating advances in technology radically reducing the human role in production of goods and services. In this increasingly “autonomous economy”, managers and policy makers must develop strategies and policies to ensure that the impending technological progress leads to “net job creation,” that is, a net positive effect on the overall employment level in the economy. In this effort, this article presents a new perspective and analysis of the net job creation process and the challenges to employment that technology poses. Also discussed are potential managerial and public policy alternatives that may slow the job loss and help cope with the potential consequence of permanent underemployment.
Subfields: Economics and Econometrics, Economics & Operations Research
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Citations in the corpus
- Evaluating the Social Impact of Generative AI Systems in Systems and Society (2023, background): “[57] argues that the substitution of labor for capital, as in the case of the introduction of labor-substituting technologies, might lead to cost cuts in the short term.”
- Automation as Part of the Solution (2019, background): “Choi and Kang’s (2019) concerns for employees could reduce the overall well-being of society. This point is important because automation typically does reduce prices. For example, it is vastly less expensive to access a vast music library today than it was a generation ago. As automation spreads to ”
- Artificial Intelligence and Entrepreneurship: Implications for Venture Creation in the Fourth Industrial Revolution (2020, background): “More utopian-leaning forecasts also suggest the economic restructuring brought about by AI could lead to a new breed of intrinsically driven entrepreneurs ( Choi & Kang, 2019 ; D’Mello, 2019 ) who are not necessarily motivated by rapidly scaling ventures and then exiting.”