1942 PermanentTechnologicalUnemploym

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Subject Headings: Technological Unemployment

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Abstract

The theory of technological unemployment is a stepchild of economic science. The facts seem to stand in such blatant contradiction to orthodox doctrine, according to which no " permanent " technological unemployment is possible, that most American textbooks prefer not to mention the problem itself. This attitude is of recent times. The analysis to which Ricardo subjected the displacement of labor by the machine in the last edition of the Principles had stimulated a lively discussion among the later classical economists, who, as we shall see instantaneously, followed two different lines of thought. With the rise of neoclassical equilibrium analysis, the discussion died down, at least in Anglo-Saxon literature and only recently the oldest argument against technological unemployment, originally developed by McCulloch, was revised in a little more sophisticated form by two American economists, P. H. Douglas and A. Director in “The Problem of Unemployment (New York, 1931). We can therefore distinguish three approaches.

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References

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 AuthorvolumeDate ValuetitletypejournaltitleUrldoinoteyear
1942 PermanentTechnologicalUnemploymHans P. Neisser"Permanent" Technological Unemployment:: Demand for Commodities Is Not Demand for Labor1942
AuthorHans P. Neisser +
title"Permanent" Technological Unemployment:: Demand for Commodities Is Not Demand for Labor +
year1942 +