Political Economy: Machines Taking Away Our Jobs (Term Paper Sample)
To start, in terms of the length, the paper should be 7-10 pages double-spaced. In the minimum, you should use at least 3-4 sources (Wikipedia, or random pages and blogs on the internet do not count!). You should also reference any sources, no instance of plagiarism is tolerable. The deadline for the paper is May 11.
I chose questions related to contemporary discussions, so you should be able to find many newspaper articles, but of course you can always use books, journal articles or even documentaries.
As for the topics, here is a list of a few topics that are related to the course, and hopefully interesting for you to research and write about:
1- Machines taking away our jobs: Which sectors will be more effected? what are examples of this already happening? What are possible soultions?
2- Wages in the US: Have "real" wages increased during the last 30 years? what is the difference in wages according to gender and race? what is an acceptable minimum wage in the US?
3- Watch and summarize the documentary "Chicago Boys": is there a relation between free markets and free people? what were the economic results of the dictatorship and the use of the "brick" document, particularly in terms of economic growth and inequality. (no need for 3-4 sources as in other papers, but highly encouraged)
Machines Taking Away Our Jobs
Technological advancement and innovations have made work easier and more efficient. However, the continued developments in technology in the manufacture of machines could pose a looming threat to the employment of a significant percentage of the population. Although the increased investments in technology also provide jobs, the machines developed have at the same time caused unemployment. The developing nations have to take into cognizance the overall impact of technology on the development and improvement of their economies. With the current innovations, development and use of technology in almost all sectors of the economy creates a need to analyze the long-term effects of the technology, so as not to cause massive loss of jobs.
Various sectors such as service industries, manufacturing industries, transport and communication, agriculture and food production industries and the military have had an important and massive investment in technology. The efficiency of the machines or the installed technology in the various sectors of the economy has resulted in the loss of employment opportunities. The work or duties that could have been done by several individuals are currently being done by a small number of machines or just a computerized program that could be controlled by a single individual. Due to these concerns and the continued investments in technology (digitalization) and the increasing population, sustainability measures have to be incorporated so as to reduce unemployment associated with adoption of technology. The advancement in technology should help in the creation of alternative employment opportunities for the population.
According to US statistics, projections as a result of continued investment in robot technology is likely to result in the loss of approximately 6% of jobs in America by 2021. The service sector would be largely hit by the continued investment in robot technology. Replacing humans in service provision pose a threat to the social dynamics among the population, although entrepreneurs view this as cost effective. Banking, hotel, entertainment and recreational services have experienced massive technological investment. The Moley Robotic Company
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