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The Economics of Digital Transformation: Approaching Non-stable and Uncertain Digitalized Production Systems Read chapter Read first chapter

2021 | OriginalPaper | Chapter

Breakthrough Technologies and Labor Market Transformation: How It Works and Some Evidence from the Economies of Developed Countries

Authors : Elena Gorbashko, Irina Golovtsova, Dmitry Desyatko, Viktorya Rapgof

Published in: The Economics of Digital Transformation

Publisher: Springer International Publishing

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Abstract

The proliferation of digital technology and growing economic inequality have exacerbated the question of the boundaries of using breakthrough technologies. Economic practice shows that under the influence of new technologies there is a constant transformation of the labor market and these changes are usually associated with job cuts in the manufacturing industry. An analysis of empirical data of the US economy shows that job cuts in the industry sector and growth in the services sector are a long-term and sustainable trend. Such a process of structural transformation cannot be provided only by market mechanisms. The wide involvement of the state as an institution in the formation and financing of retraining and retraining programs for personnel is required to mitigate the consequences of profound structural changes in the labor market.

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previous chapter Technological Development: Models of Economic Growth and Distribution of Income
next chapter Technological Substitution of Jobs in the Digital Economy and Shift in Labor Demand Towards Advanced Qualifications
Footnotes
1
Assemblers and Fabricators; Engine and Other Machine Assemblers; Electrical, Electronic, and Electromechanical Assemblers; Extruding and Drawing Machine Setters, Operators, and Tenders, Metal and Plastic; Forging Machine Setters, Operators, and Tenders, Metal and Plastic; Rolling Machine Setters, Operators, and Tenders, Metal and Plastic; Cutting, Punching, and Press Machine Setters, Operators, and Tenders etc.
 
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Metadata
Title
Breakthrough Technologies and Labor Market Transformation: How It Works and Some Evidence from the Economies of Developed Countries
Authors
Elena Gorbashko
Irina Golovtsova
Dmitry Desyatko
Viktorya Rapgof
Copyright Year
2021
Publisher
Springer International Publishing
Book
The Economics of Digital Transformation

Print ISBN: 978-3-030-59958-4

Electronic ISBN: 978-3-030-59959-1

Copyright Year: 2021

DOI
https://doi.org/10.1007/978-3-030-59959-1_5