1. Technological Unemployment
Joshua Qiu
Hao Wu

2. What is technological Unemployment?
Definition: when individuals lose their jobs due to technological advancement

3. Stocking Frame Knitting Machine
-Invented by William Lee
-Designed to aid knitters

4. What are the effects? -Jobs are replaced but net employment increases
-New technology creates new jobs such as
-development
-support
-operation

5. Transition period
There is always a transition period for the workers that are replaced
-Artisan weavers vs. William Lee’s Frame Knitting machine
-Taxi vs. Uber

6. Technological unemployment in the future
-The net amount of jobs has increased but so has the population of Earth -
Ford before Ford now

7. Self-replicating and Self-sufficient
-Yaskawa Electric uses robots to build their robots
-More efficient than human labour