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New Macroeconomics by Apek Mulay

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CHAPTER 7

The Wage Gap and the Future of the Technological Sector

7.1 Introduction

Most experts in economics nowadays fear new technology. The rapid automation that is happening in the industrial sector is a cause of concern for many policy planners because of the unemployment that results when automation displaces workers. As a technologist, I certainly want technology to advance continuously, and I believe the role of technological progress should be to ease the lives of human beings through automation of strenuous and repetitive operations. A productive use of technology happens when machines ease the lives of human beings with automation. However, as a macroeconomist, I am equally concerned about ensuring full-employment opportunities for ...

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