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C.5. Better Precedence for Traditional Job-Creating Factors: Over time, we now have discovered that sure societal components and forces create new jobs, similar to expertise innovation, entrepreneurship, and stable social environments. Although these forces will not be capable of completing compensating for technological unemployment, they could assist stall and mitigate the severity of such unemployment. Insurance policies reminiscent of supporting research and development, providing extra financing and decreasing regulatory burdens on small business entrepreneurs, rising international commerce, and promoting secure household environments should therefore be given greater priority in this time of probably runaway unemployment (Baker and Hassett 2012; Spence and Hlatshwayo 2011). Universities are centers of innovation and entrepreneurial begin-up companies, all of which generate top quality jobs, and therefore also needs to be a precedence for funding (Florida 2013).
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Jobs are the primary mechanism by means of which income – and therefore purchasing power – is distributed to the people who consume all the pieces the economy produces. If in some unspecified time in the future, machines are likely to completely take over quite a lot of the work now carried out by human beings, then that can be a risk to the very basis of our economic system (Ford 2009, 5).