Sterling Terrell

smart ideas from books

  • Home
  • About
    • Work With Me
    • My CV
    • Tools
    • Books
    • Series
  • Newsletter
  • Advertising
You are here: Home / Potpourri / Economics 101: Structural Unemployment

Economics 101: Structural Unemployment

Economics 101: Structural Unemployment

 [This is part of the series: The Complete Guide To Economics 101.]

What is structural unemployment?

Structural Unemployment is unemployment caused by advances in technology.

This is what Joseph Schumpeter meant when he said “creative destruction.”

Simply: Innovation puts some out of business.

You want examples?

  • Since the internet, experienced printers have lost their jobs
  • Cotton pickers found other jobs when cotton harvesting became mechanized
  • Investment professionals have lost many jobs to computers
  • And buggy makers became obsolete when the car became available to the masses

Share this:

  • Click to share on Facebook (Opens in new window)
  • Click to share on Twitter (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Tumblr (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)

Related

Filed Under: PotpourriTagged With: #Economics101

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Privacy Policy

Connect

  • Facebook
  • LinkedIn
  • Pinterest
  • Twitter

Free Weekly Newsletter:

Search

Recent Posts

  • Denying Your Children Important Experiences (Stop!)
  • The Case For Less Praise
  • Create This Controversy
  • When A Child Asks A Question (Do This)
  • Hypomone – In All Things
  • With No Care Of The Nations
  • Instabooks 344
  • The Week In Review – 249
  • Maybe Stop Asking Your Kids “Did You Have Fun Today?”
  • Random Thoughts – 273
  • The Bittersweet Road Of Parenting
  • Instabooks 343
  • Waiting For That Long Black Train
  • Parenting Disposition: Improved
  • If You Want To Be A Writer Then…
  • Goes On In It’s Frozen Way
  • Protect Children From Disappointment?
  • Because You Did The Work
  • Fluffed Up Over Your Ears And
  • Dependent On Us Is Not The Parenting Goal
  • Snow Day 2021
  • They Force You To Be Precise
  • The Week In Review – 248
  • Explore The Answer For Themselves
  • Random Thoughts – 272

Copyright © 2021 · Generate Pro On Genesis Framework · WordPress · Log in