Technology, Not Trade, Drives Most Job Displacement
Haass accepts that trade can eliminate jobs, but says it is blamed for a larger share of disruption than it causes. He identifies productivity and technology as the bigger source of displacement and warns that robotics, 3D printing, and artificial intelligence could accelerate the effect.
- Trade sometimes displaces workers
- Trade also acts as a political outlet for broader frustration
- Productivity and technology eliminate more jobs
- Worker transition support and retraining require a larger public debate
“the biggest source of displacement in jobs of job elimination is not trade, it's technology.”
“the potential for job displacement might accelerate.”