How can the objective of modernization andremoval of unemployment be coincided?
Answer:
Modernisation will help reduce costs and increase productivity. This would mean higher profits by cost savings and/or larger sales through more competitive pricing. So, while modernisation may mean displacement a part of lebor, it also means more profits and more investible surplus and therefore more investment which will cause fresh employment. On the otherhand, without modernisation, an activity will soon lose its economics, there will be loss and there will be closure and retrenchment of all labor sooner or later.
So without modernisation, unemployment is guranteed to decline. With modernisation, intiall drop in employment will be lower and ultimately more employment will be created. In efficient, obsolete things will die without fail, modernisation helps restore viability and employment.
It has happened before and it will happen again, with each 'improvement' life becomes more difficult for the one not school in the new idea. Normal. Need I say more it happened to and will happen to others, life goes on.
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