Employment and Equity in the Age of Digital Disruption

Summary

Is society destined for mass technological unemployment as a result of robotization and artificial intelligence? Will inequality grow as a result of new technologies? Are universal basic income and robot tax the new frontier of welfare?

Key points

• Key points:
• We are now living in times of uncertainty—and even fear—regarding the impact of the large-scale process of technological shift, known the Digital Revolution.
• Progress in technology, and its effects on social welfare, have become a primary concern of economists — from classical economists to, more recently, Nobel laureates.
• In general, the unemployment rate is lower in developed economies where automation and digitization are more advanced, even reaching historic lows in some cases.

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