I believe that an increase in the use of robotics will cause both a loss of jobs
Question:
I believe that an increase in the use of robotics will cause both a loss of jobs and a shifting of jobs. Unfortunately, I belive that the loss of jobs will be a greater number than the amount of jobs shifted. While some of those employees whose jobs were replaced would be able to be retrained to operate or program their robotic replacement, a study from the University of Chicago found that adding 1 machine per 1,000 workers reduces the employment-to-population ration by 0.2% and wages by 4.42%. Society should continually revaluate the effects of robotics on our labor force and it's impact on our economy.
The use of advanced robotics could eliminate not only entry-level jobs, but also middle-class jobs which will aide in the growing income class inequality in the U.S. Industries experiencing rapid robotization have seen a "particularly high" task displacement for middle-income Americans.
I don't believe that a company has an ethical responsibility to re-train or otherwise support their workers that have been displaced by automation. However, I do believe that choosing to do so would be extremely beneficial to their going concern and good will as a continuing business. Automation is something that should be heavily considered before implementation.
Will the money that is saved by implementing automation outweigh the possible revenue loss by a segment of disgruntled customers?
What is your opinion on this view of robotic advances in Japan?