Consequences of Robotization for Employment
Consequences of Robotization for Employment
Due to the computerization, in the recent decades machines have become increasingly able to perform tasks that previously could only be performed by humans. In the public debate, fears are rising that this process might lead to a “jobless future”. However, the potential of new technologies to complement human labor, as well as the relevant economic processes, often receive only little attention. Workers typically adjust to changing capital endowments of firms. Economic considerations might slow down the introduction of new technologies and their might actually raise demand, production and thus even employment. The aggregate effects of new technologies on employment are unclear and not necessarily negative. In this project, we summarize the existing evidence on the recent as well as potential future effects of technological change and robotics on employment to develop a roadmap for policy, how to successfully manage the expected technological change.