Technological unemployment is the notion that technology advancements can result in job losses. Software and machines are now capable of doing tasks previously performed by people. This idea is not new. It has been discussed since the Industrial Revolution of the 18th century.
John Maynard Keynes’ writings in 1930s predict that technological advances would lead eventually to the “euthanasia” of rentiers and a fifteen-hour workweek. This is one of the first discussions on technological unemployment. Keynes believed, however, that technological advancement would eventually lead to an increase of overall employment as more industries and jobs were created in order to adapt to the evolving technological landscape.