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Dec 1, 2016·Economics Management and Financial Markets
16 cites
WILL TECHNOLOGICAL UNEMPLOYMENT AND WORKPLACE AUTOMATION GENERATE GREATER CAPITAL–LABOR INCOME IMBALANCES?

Elvira Nica

1. IntroductionAutomation takes the place of work, harmonizes it, increases production in manners that generate superior demand for work, and intermingles with modifications in labor supply. Alterations in technology change the kinds of occupations available (Nica, 2016a, b) and what they pay. The interaction between machine and human equivalent ascendancy enables computers to take the place of employees in carrying out standard, codifiable undertakings while intensifying the equivalent ascendancy of employees (Nica, Hurjui, and Stefan (Iftimie), 2016) in providing problem-solving abilities, flexibility, and resourcefulness. A key economic process by which automation influences the demand for work is increasing the significance of the undertakings that employees uniquely provide. Workplace technologies accomplish their labor saving goal. Technological alteration has not eliminated employment for most employees. Automation may not decrease aggregate hiring, even as it cuts down work demands per unit of amount produced. (Autor, 2015)2. The Powerful Reciprocalities between Automation and Work that Raise Output, Increase Returns, and Intensify Demand for workTechnological unemployment may generate significant disparities and a rising gap between the revenue to labor and the earnings to capital. The intrinsic digital logics that alter everything define the Fourth Industrial Revolution that is the mechanisms for vast automation and the decrease of industrial professions. With each subsequent series of technical cutting edge, the logic has gone through major alterations in swiftness and extent (Popescu, 2016a, b; 2015), with an additional stress on mechanisms of abstraction, formalization, and mathematization that empower and recompense independent digital network systems. A particular planetary technical system has come out that links and all main regions with some decentralization in finance, articles of trade, communication, and information: it facilitates access to worldwide markets in quick real time constituting internationallyscaled markets that minimize the size of the initial industrial/colonial system and considerably get a move on all transactions. This system, elaborated and improved, spreading across the planet by competing with natural systems, is vigorous and metamorphic. This indicates the characteristics of chaotic and intricate systems that raise interconnectivity and instability. This epoch of genetics, nanotechnology and robotics introduces the era of distinctiveness, facilitating the reconstructing of the humankind particle by particle. (Peters, 2017) Digital technologies are profoundly associated with relations of power that impact the configuration, direction and results of digital technologies, encompassing within the labor sphere, being produced, used and replicated under circumstances where power is a feature of capital (Popescu, Comanescu, and Sabie, 2016): what types of digital technologies get created, how they are employed and what results they generate, are somewhat subject to the concerns of capital and its representatives. Digital technologies are advanced under capitalism, aiming to raise surplus value production, and being charac- terized and restricted by the pursuit for surplus value. If they endanger surplus value production, subsequently they will be impeded by capital. Insofar as digital technologies are employed for the intentions of surplus value production, they will generate results that are satisfactory for capitalist employers and detrimental for employees. (Spencer, 2016)Undertakings that cannot be replaced with automation are usually supplemented by it. When automation or computerization advances in a labor mechanism more trustworthy, less expensive, or swifter, this raises the significance of the outstanding human connections in the production chain. These principal components may diminish or intensify the effects of technological change: (i) employees are more expected to profit unswervingly from automation if they provide undertakings that are supplemented by automation, but not if they chiefly (or entirely) provide undertakings that are used instead; (ii) the adjustability of work supply can moderate wage gains; and (iii) the production elasticity of demand in conjunction with income elasticity of demand may either diminish or increase the earnings from automation. …

Economic and Technological Innovation
Original source
Jan 1, 2015·SSRN Electronic Journal
1 cites
"A Bad Apple Went Away": Exploring Resilience among Bitcoin Entrepreneurs

Claire Ingram, Marcel Morisse, Robin Teigland

The emerging digital cryptocurrency Bitcoin has made waves in mainstream media across the globe, as have the numerous extreme events that have rocked it. One such event, the bankruptcy of a prominent Bitcoin exchange called Mt.Gox, particularly shocked the emerging sociotechnical field. However, it is not clear how the numerous entrepreneurial firms operating in this field survived this shock. \\ \\ Studies of resilience in the face of extreme events have typically examined mature firms, characterised by formal structures and some slack resources. In such studies, the resilience, adaptability and trans-formability of the firm come into view. A new firm in an emergent field, however, is equally driven to survive – but must do so with far more limited resources, without a formal structure and little in the way of organisational learning. In our study, we find that such entrepreneurial firms rely on their col-lective identity in forming resilient responses. Furthermore, one outcome of this shock was a call for regulations and oversight – despite earlier dogmatic rejections of such formal control. \\ \\ Keywords: Bitcoin, Entrepreneurship, Resilience, Extreme Event, Qualitative Study \\

Open access
Management and Organizational Studies
Economic and Technological Innovation
Blockchain Technology Applications and Security
Original source