Question
Relation between technology and employment
Answer :
Word Count : 228
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The relationship between technology and employment has been a central concern in labour market theories, often reflecting both optimistic and pessimistic perspectives. Classical economists viewed technological progress as a driver of productivity, leading to economic growth and ultimately creating more jobs through increased demand. This aligns with the compensation theory, which argues that job losses due to automation are offset by new employment opportunities in emerging sectors, lower prices, and increased investment. However, Marxian and neo-Marxist perspectives emphasize the disruptive impact of
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