THE FUTURE OF EMPLOYMENT

Adam Smith's Productivity Insight

Showed how specialisation increases productivity through the division of labour.

Division of Labour System

Splitting a job into small tasks so workers can specialise and increase productivity.

Reserve Army of the Unemployed Concept

A pool of unemployed workers that makes it easier for companies to keep wages low.

John Maynard Keynes's Economic Approach

Believed governments should create jobs during economic crises.

Multiplier Effect Mechanism

Government spending generates additional spending and creates more jobs throughout the economy.

Pointless Employment Concept

Jobs that appear unnecessary or provide little real value.

David Graeber's Contribution

Anthropologist who introduced the concept of "bullshit jobs."

Managerial Feudalism Theory

The practice of keeping unnecessary workers so managers appear more important.

Universal Basic Income Policy

A government payment given to everyone regardless of whether they work.