ATAR Notes: Forum

VCE Stuff => VCE Business Studies => VCE Subjects + Help => VCE Economics => Topic started by: atar90please on May 15, 2014, 01:46:06 am

Title: Economics - Skilled Workers
Post by: atar90please on May 15, 2014, 01:46:06 am

"How would you expect technological advances to effect the value of skilled workers."

Would advanced technology compliment the need for higher skilled workers, thus increasing demand and in turn, the overall value. Or would it simply shift the allocation of labor resources. eg. move skilled workers from one sector to another.

Title: Re: Economics - Skilled Workers
Post by: abcdqdxD on May 15, 2014, 07:46:45 pm

Quote from: atar90please on May 15, 2014, 01:46:06 am

"How would you expect technological advances to effect the value of skilled workers."

Would advanced technology compliment the need for higher skilled workers, thus increasing demand and in turn, the overall value. Or would it simply shift the allocation of labor resources. eg. move skilled workers from one sector to another.

Hmm thats a tough one. My first instinct was that it would reduce the need for labour as capital equipment replaces them. But the point that you need skilled workers to operate hi-tech machinery would also be valid.