Technology and Inequality
Should we hold back technology to protect the unskilled workforce?
In an article posted in Huffington Post last year, the writer Bonnie Kavoussi indicated that 90 million people will no longer need in the workforce by the year 2020 because of the advancement of technology. This may lead us to think that maybe it is time for the industrialized countries to take a step back and slow down in their technological advancements. However, no matter where you look at it, technology has brought more profits and positive outcomes, weighing down the negative. Technology will always have an impact on the employment rates. It produces jobs, and at the same abolishes jobs. Technology paves more job opportunities to the high-skilled workers, while it eliminates the chance for unskilled workers to continue to be useful in the business. While there is ultimate danger for the unskilled workforce to be strapped out of incomes and place in the industry, technology has pulled the general profits per nation and overall productivity rate. Thus, industrialized and developing nations need the help of technology in order to thrive and survive.
But what about the imminent threat of depriving the unskilled workers of job opportunities? If only the industrialized nations would strengthen their efforts in retraining their low-skilled workers, and providing more opportunities for mid-career employees to obtain graduate and postgraduate education, then the figures of unskilled or low skilled employees in the workforce would surely go down.
Should we hold back technology to protect the unskilled workforce? My answer is no but it is a pressing issue that needs to be addressed immediately. Slowing down the technological advancements will not produce a general positive result for everyone. The government should deepen their involvement in elevating the ranks of their unskilled labor workforce.