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That technological change may cause short-term job losses is widely accepted. The view that it could possibly lead to lasting increases in unemployment has lengthy been controversial. Participants in the technological unemployment debates might be broadly divided into optimists and pessimists. Optimists agree that innovation may be disruptive to jobs within the quick time period, yet hold that various compensation results ensure there may be by no means a long-term destructive unemployed professors impression on jobs, whereas pessimists contend that at the very least in some circumstances, new applied sciences can result in a long-lasting decline within the complete variety of employees in employment. The phrase “technological unemployment” was popularised by John Maynard Keynes in the 1930s, who mentioned it was a “solely a temporary phase of maladjustment”. 1 Yet the problem of machines displacing human labour has been discussed since a minimum of Aristotle ‘s time.

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