Net Job Creation in an Increasingly Autonomous Economy: The Challenge of a Generation

Abstract

One of the world’s most pressing concerns in the next few decades will be job creation. The biggest cause for concern may be the accelerating advances in technology radically reducing the human role in production of goods and services. In this increasingly “autonomous economy”, managers and policy makers must develop strategies and policies to ensure that the impending technological progress leads to “net job creation,” that is, a net positive effect on the overall employment level in the economy. In this effort, this article presents a new perspective and analysis of the net job creation process and the challenges to employment that technology poses. Also discussed are potential managerial and public policy alternatives that may slow the job loss and help cope with the potential consequence of permanent underemployment.