The adjustment process I describe above does not mean that no one suffers from automation. But there are costs – even for the middle class They can now afford to buy more products than before, which then creates new jobs for workers to fill. This is true because automation raises worker productivity and reduces the costs and prices of goods and services, which makes consumers richer. New jobs always emerge to replace those that have been lost.
To date, these fears have never proven accurate in any industrial country. In the US, such fears occasionally surface as well, as they did during a brief “automation scare” in the late 1950’s and early 1960’s, when a wide swath of workers felt some risk of displacement. The fear that automation will eliminate millions of jobs, leaving masses of workers jobless, has periodically emerged in industrialized countries at least since the Luddites first made that claim in Britain in the mid-19 th century.
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workers now threatened by a new and powerful form of automation that could displace tens of millions from their current jobs and dislodge them from the middle class? If so, are college-educated or professional workers at the upper range of the middle class as much threatened as those with fewer such credentials at the lower end? And can policy do much to protect the middle class status of either group? Old fears, new trends
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