ECO 3351 Troy University Economics Debate Discussion

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Economics

ECO 3351

Troy University

ECO

Description

Debate topic: "should the government tax or potentially ban 'labor-saving' inventions that could eliminate thousands of jobs like driverless cars, electronic kiosks, etc.?"


Explanation & Answer:
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Explanation & Answer

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Body
Conclusion
References


1
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Instructor’s Name
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Taxation of Labor-Saving Inventions
When labor-saving inventions are introduced into any productive organizational
process, most of the workers lose their jobs more often than not since the organization can
easily improve the level of production while eliminating a significant amount of wages. The
inflexible state of the modern-day labor market poses a significant risk to employees whose
jobs are not as secure as they used to be due to the rise of technological labor-saving inventions
that are rapidly eliminating human labor, hence increasing the rate of unemployment.
Moreover, the occupational and geographical immobility of most of the employees who lose
their jobs to labor-saving inventions are unable to take up new jobs (Feng & Graetz, 2015).
The rapid advancement of technology is a strong indication that organizations will increasingly
adopt the use of labor-saving inventions to replace human labor, hence increasing the rate of
unemployment. To remedy the situati...


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