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Technology and the Future of Work

The Impact on Labour Markets and Welfare States

Bent Greve

Changes in the labour market demand new solutions to mitigate the potentially dramatic wiping away of jobs, and this important book offers both analysis and suggestions for change. Bent Greve provides a systematic and vigorous assessment of the impact of new technology on the labour market and welfare states, including comprehensive analysis of the sharing and platform economies, new types of inequality and trends of changes in the labour market.
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Chapter 3: Pressure in modern times and in the future

The Impact on Labour Markets and Welfare States

Bent Greve

Extract

This chapter will focus on the development of Big Data, the use of the internet and robots as new emerging trends (although some have been around for some time) with a stronger and faster development than previously, implying that classical production presumably will be wiped out and that in several areas the labour force – even if cost is moving towards zero – will not be able to compete with the speed and efficiency of new technology. Therefore, as historically, existing jobs will become redundant, but also presumably fewer new jobs will be created. This new development is a pressure not only on low-skilled jobs but increasingly also on high-skilled jobs within, for example, the financial sector, higher education, law and medicine. This also brings into question the option and possibilities of the hollowing out of the middle job section of the labour market, although this is still a risk (see also Chapter 5).

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