Technological progress can lead to job loss from "summary" of 23 Things They Don't Tell You About Capitalism by Ha-Joon Chang
Technological progress can lead to job loss. This may seem counterintuitive, as we often associate technology with creating new jobs and opportunities. However, the reality is that technological advancements can also result in the displacement of workers. One reason for this is that machines and automation can perform tasks more efficiently and at a lower cost than human workers. As a result, companies may choose to invest in technology to increase productivity and reduce labor costs. This can lead to job cuts and downsizing as workers are replaced by machines. Furthermore, technological...
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