Full Employment: An Outmoded Objective in a Technological Age—Rejoinder |
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Authors: | Philippa Smith |
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Abstract: | This paper challenges the assumption that technological change is beneficial because it results in efficient resource allocation. The introduction of technology in a period of low economic growth will merely distribute income to a decreasing number of people in jobs. As recent history has shown, this situation is worsened if the employed are not prepared to share their gains with the unemployed. |
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