05:38 Dec 2, 2017
The text provides hints about automation in the history of political economy. For example, refer to the following sentences: 1) One reason is that standard neoclassical theory typically treats automation as a Pareto improvement: in the event that workers are displaced by machines. 2) The downfall of the domestic system—which was gradually displaced by the mechanized factory—inflicted substantial social costs on workers, leading them to rage against the machines. 3) The 1779 riots in Lancashire and the Luddite risings of 1811 to 1813, are only two of many attempts to bring the spread of machines to halt. |