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That technological change could cause quick-term job losses is widely accepted. The view that it may possibly lead to lasting increases in unemployment has lengthy been controversial. Contributors within the technological unemployment debates might be broadly divided into optimists and pessimists. Optimists agree that innovation could also be disruptive to jobs within the short time period, yet maintain that various compensation effects guarantee there may be never a long-time period unfavourable impression on jobs, whereas pessimists contend that not less than in some circumstances, new applied sciences can lead to a long-lasting decline in the whole variety of workers in employment. The phrase “technological unemployment” was popularised by John Maynard Keynes within the Thirties, who said it was a “solely a short lived phase of maladjustment”. 1 But the issue of machines displacing human labour has been mentioned since no less than Aristotle ‘s time.

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