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Economists reassure us that efficiency is a great thing and something we should welcome. The people who lose their jobs as a result of creative destruction will be freed up to do more useful jobs that they find more satisfaction in.
I love the idea of efficiency and the promise that technology can offer for better standards of living around the world. However, I am concerned about all the jobs that have been lost in the past and will continue to be lost in the future with the rapid and never ending pace of technological innovation.
What do you do in the modern economy when jobs are being replaced by machinery and new technology continuously? As a former teacher, I’m a big believer in education. Undoubtedly though, we need to rethink at least some of our educational models.
Retraining needs to be offered in a quick and efficient manner to get people back to work and earning an income again. Also, what do you do during the time of retraining in order to avoid disincentivizing work? If you offer an overly generous social safety net in the meantime, you run the risk of creating dependency, right?
Clearly, there are no easy answers. It is something we do need to start thinking about and planning for though in my opinion. Believe me, I love tech just as much as the next guy, but there are definitely downsides we need to evaluate more honestly.
One possible solution in my idealistic thought pattern over the past decade? Put tons of people to work making and installing solar panels and other forms of renewable energy.
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