Topic > Race Against the Machine - 1666

Executive SummaryThis document is a summary of the book titled "Race Against the Machine" written by Erik Brynjolfsson and Andrew McAfee. This article focuses on the impact of technology on current employment issues. Three explanations of current economic issues are provided: cyclicality, stagnation, and the “end of work” (Brynjolfsson & McAfee, 2011). Subsequently, the idea of ​​excessive technological progress that makes man jobless is presented and various arguments are put forward in support of it. Secondly, the idea of ​​technological development causing the division of labor into high-skilled, low-skilled, capital, labor, superstar and ordinary workers is presented and explained in detail. Finally, the remedies to resolve these problems are presented and explained. The main highlights of this document are the discrepancy between productivity and job creation, the interconnection between technological improvement and division of labor, and the importance of education in creating a stable skilled workforce and developing a stable society. (Brynjolfsson & McAfee, 2011)Key terminologies1. General Purpose Technologies: A small group of technologies that disrupt and accelerate the normal march of economic progress. (Brynjolfsson and McAfee, 2011)2. Productivity is the amount of output per unit of input. (Brynjolfsson and McAfee, 2011)3. Labor productivity output per worker or per hour worked. (Brynjolfsson and McAfee, 2011)4. Technological unemployment is unemployment due to our discovery of means of economizing the use of labor that exceed the rate at which we can find new uses for labor. (Brynjolfsson & McAfee, 2011)Additional sources1. “The New Division of Labor” by Frank Levy and Richard Murnane.2. “The Age of Spiritual Machines: When Computers Surpass Human Intelligence” by Ray Kurzweil....... half of the paper...... and once again with the creation of larger markets, the attraction of large competitors and the creation of new job opportunities, but the problem concerns undefined factors such as outsourcing, lack of skills development compared to technological progress. Technological progress can have a huge impact on employment, but it is also improving human life. Technology has become an integral part of our life, so we cannot think of a life without technology, but to ensure that the same does not harm our livelihood we should keep track and hone and sharpen our skills with the advancement of technology. (Brynjolfsson & McAfee, 2011) Bibliography Brynjolfsson, E., & McAfee, A. (2011). Race against the machine: How the digital revolution is accelerating innovation, boosting productivity and irreversibly transforming jobs and the economy. Lexington, Mass.: Digital Frontier Press.