04 JAN 2012 by ideonexus

 Keynes Predicts Unemployment from Automation

We are being afflicted with a new disease of which some readers may not yet have heard the name, but of which they will hear a great deal in the years to come—namely, technological unemployment. This means unemployment due to our discovery of means of economising the use of labour outrunning the pace at which we can find new uses for labour.
Folksonomies: employment automation
Folksonomies: employment automation
  1  notes

He predicts technological progress will outrun the pace for which we can find new uses for labor in 1930.