These days, new machines are being introduced constantly. Since
they can do the work of several workers in the same time, fewer workers
are required. Every time a new machine is introduced, many of us are
thrown into the street.
Answers
Answer:
Yes you are right machine can do the work of 50 in the double person so 50 persons are thrown out
Answer:
Employment is the source for socio-economic sustainability. However with the advancement of modern science and technology there has been far reaching reduction in human employment especially in labour intensive industries, which was a serious concern even expressed by Mahatma Gandhi.
In the present times the capital intensive industrialization and use of modern technologies like Artificial intelligence etc are making economic activities more machine based and less labour based. This brings a serious situation of job reduction and cutting down of employment in the future,thereby creating more socio economic strain and catastrophic impact on developing and poor societies, nations, regions and sectors.