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That technological change can cause brief-term job losses is broadly accepted. The view that it can lead to lasting increases in unemployment has lengthy been controversial. Contributors within the technological unemployment debates may be broadly divided into optimists and pessimists. Optimists agree that innovation could also be disruptive to jobs in the brief time period, but hold that numerous compensation effects guarantee there’s by no means a long-term unfavourable impact on jobs, whereas pessimists contend that a minimum of in some circumstances, new applied sciences can result in a long-lasting decline within the whole number of workers in employment. The phrase “technological unemployment” was popularised by John Maynard Keynes within the Nineteen Thirties, who said it was a “only a temporary phase of maladjustment”. 1 But the problem of machines displacing human labour has been mentioned since not less than Aristotle ‘s time.
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