Analysis
Politics
European Commission Report Highlights Ukraine’s Gains in Governance, Reform and Resilience
7 November 2024
What do experts have to say about the potential effects of robotisation and automation on the Hungarian labour market? Urgent reforms of the education system would be crucial for adapting to rapid technological change.
“You are very ambitious, Mr Lee, but just imagine the impact your invention would have on my subjects. It would certainly ruin them by taking their jobs and making them beggars,” allegedly is what Queen Elizabeth I told William Lee, the inventor of the knitting machine in 1589 when he applied for a patent. As this anecdote demonstrates, the fear of job losses in times of technological change is far from being a new phenomenon.
Prior to the First Industrial Revolution, no one could imagine the economic benefits the knitting machine would bring to people’s lives, as it was easier to predict how many jobs would be lost than how many new occupations would be created.
Today we are again witnessing such a transformation, the Fourth Industrial Revolution, and just as few hundred years ago, no day goes by without a new alarming prediction about how machines will take our jobs and how people will become redundant.
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