In a 1938 article, MIT’s president argued that technical progress didn’t mean fewer jobs. He’s still right.
Compton drew a sharp distinction between the consequences of technological progress on “industry as a whole” and the effects, often painful, on individuals.
For “industry as a whole,” he concluded, “technological unemployment is a myth.” That’s because, he argued, technology "has created so many new industries” and has expanded the market for many items by “lowering the cost of production to make a price within reach of large masses of purchasers.” In short, technological advances had created more jobs overall. The argument—and the question of whether it is still true—remains pertinent in the age of AI.
Then Compton abruptly switched perspectives, acknowledging that for some workers and communities, “technological unemployment may be a very serious social problem, as in a town whose mill has had to shut down, or in a craft which has been superseded by a new art.”
If technological develop it’s not intended to reduce labor hours and redistribute wealth, what it’s intended for? For the rich to being more rich?
Yes. That’s all anything is for.
There’s a difference between what’s intended for, and what is used for.
To increase humanities control over its environment. The form that takes is a secondary concern
They say technology tends to eliminate lower skill jobs. But actually it often transmutes a high skill job into several lower skill jobs. Often without reducing the actual skill required in any way.