Publication detail

Reducing Technological Unemployment by Broadening Capital Ownership

KONEČNÝ, Z. MELUZÍN, T.

Original Title

Reducing Technological Unemployment by Broadening Capital Ownership

Type

conference paper

Language

English

Original Abstract

Purpose of the article Machines are used in almost every area of human activities. Substituting labour with machines is a step forward, but most people lose their job and thus the dominant source of income. This article has to show, that the technological unemployment is not just a threat, but it can have also a positive effect for the dismissed workers consisting in making them partial owners of the new assets and thus rich people with passive incomes. Methodology/methods There are used secondary data to analyze the structure of incomes and expenses in czech households. Using the Spearman coefficient of rank correlation there is determined the connection between the gross domestic product per capita and the expenses for different goods and services. Subsequently, there is deduced, which expenses can be postponed and so which amount of money is available to save. Scientific aim The main aim of this article is to suggest a course of steps to keep the dismissed workers in the form of broadening the ownership structure after automation of production. So there is specified broadening capital ownership as a solution to technological unemployment. Findings There was found out that most kinds of expenses are firmly correlated with the gross domestic product. So these bought goods and services are not necessary and their consumption can be postponed. But the period, when the employees should save money to invest it, should be longer than ten years. Conclusions The suggested approach to broaden the ownership structure regards the actual standard of living, which is derived from the goods and services, whose consumption is not very firmed correlated with the gross domestic product. Furthermore, it is applicable for managers to determine, which part of wage should be saved periodically to keep the standard of living into the future.

Keywords

broadening the ownership structure; gross domestic product per capita; standard of living; structure of incomes and expenses; technological unemployment

Authors

KONEČNÝ, Z.; MELUZÍN, T.

Released

19. 5. 2016

Publisher

Brno University of Technology, Faculty of Business and Management

Location

Brno

ISBN

978-80-214-5413-2

Book

Smart and Efficient Economy: Preparation for the Future Innovative Economy

Edition number

1

Pages from

32

Pages to

39

Pages count

8

URL

http://icem.lt/public/icem/ICEM_2016.pdf

BibTex

@inproceedings{BUT125135,
  author="Zdeněk {Konečný} and Tomáš {Meluzín}",
  title="Reducing Technological Unemployment by Broadening Capital Ownership",
  booktitle="Smart and Efficient Economy: Preparation for the Future Innovative Economy",
  year="2016",
  number="1",
  pages="32--39",
  publisher="Brno University of Technology, Faculty of Business and Management",
  address="Brno",
  isbn="978-80-214-5413-2",
  url="http://icem.lt/public/icem/ICEM_2016.pdf"
}