Current Events > Apparently ATMs actually increased the number of bank tellers

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Balrog0 08/13/19 1:41:07 PM #1:	http://www.bu.edu/law/files/2015/11/NewTech-2.pdf Nevertheless, the figure provides reason to question the assumption that automating a task eliminates jobs. In fact, automation can increase demand for the affected occupation as well as decrease demand. Consider, for example, the effect of the automated teller machine (ATM) on bank tellers, a routine-intensive occupation. The ATM is sometimes taken as a paradigmatic case of technology substituting for workers; the ATM took over cash handling tasks.7 Yet the number of fulltime equivalent bank tellers has grown since ATMs were widely deployed during the late 1990s and early 2000s (see Figure 2). Indeed, since 2000, the number of fulltime equivalent bank tellers has increased 2.0% per annum, substantially faster than the entire labor force.8 Why didnt employment fall? Because the ATM allowed banks to operate branch offices at lower cost; this prompted them to open many more branches, offsetting the erstwhile loss in teller jobs (Bessen 2015). At the same time, teller skills changed. Non-routine marketing and interpersonal skills became more valuable, while routine cash handling became less important. That is, although bank tellers performed relatively fewer routine tasks, their employment increased. Even though the ATM automated routine cash handling tasks, the technology alone did not determine whether employment of tellers grew or fell; economics mattered. New technology can increase demand for an occupation, offsetting putative job losses. Nor is this example exceptional: Barcode scanners reduced cashiers checkout times by 18-19%, but the number of cashiers has grown since scanners were widely deployed during the 1980s. 9 Since the late 1990s, electronic document discovery software for legal proceedings has grown into a billion dollar business doing work done by paralegals, but the number of paralegals has grown robustly.1 pretty interesting --- But to you who are listening I say: Love your enemies, do good to those who hate you, bless those who curse you, pray for those who mistreat you. <cite>Balrog0 posted [p:926015246] in Apparently... [t:77936314]...</cite> <quote>http://www.bu.edu/law/files/2015/11/NewTech-2.pdf Nevertheless, the figure provides reason to question the assumption that automating a task eliminates jobs. In fact, automation can increase demand for the affected occupation as well as decrease demand. Consider, for example, the effect of the automated teller machine (ATM) on bank tellers, a routine-intensive occupation. The ATM is sometimes taken as a paradigmatic case of technology substituting for workers; the ATM took over cash handling tasks.7 Yet the number of fulltime equivalent bank tellers has grown since ATMs were widely deployed during the late 1990s and early 2000s (see Figure 2). Indeed, since 2000, the number of fulltime equivalent bank tellers has increased 2.0% per annum, substantially faster than the entire labor force.8 Why didnt employment fall? Because the ATM allowed banks to operate branch offices at lower cost; this prompted them to open many more branches, offsetting the erstwhile loss in teller jobs (Bessen 2015). At the same time, teller skills changed. Non-routine marketing and interpersonal skills became more valuable, while routine cash handling became less important. That is, although bank tellers performed relatively fewer routine tasks, their employment increased. Even though the ATM automated routine cash handling tasks, the technology alone did not determine whether employment of tellers grew or fell; economics mattered. New technology can increase demand for an occupation, offsetting putative job losses. Nor is this example exceptional: Barcode scanners reduced cashiers checkout times by 18-19%, but the number of cashiers has grown since scanners were widely deployed during the 1980s. 9 Since the late 1990s, electronic document discovery software for legal proceedings has grown into a billion dollar business doing work done by paralegals, but the number of paralegals has grown robustly.1 pretty interesting</quote> ... Copied to Clipboard!
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Balrog0
08/13/19 1:41:07 PM
#1:

http://www.bu.edu/law/files/2015/11/NewTech-2.pdf

Nevertheless, the figure provides reason to question the assumption that automating
a task eliminates jobs. In fact, automation can increase demand for the affected occupation
as well as decrease demand. Consider, for example, the effect of the automated teller
machine (ATM) on bank tellers, a routine-intensive occupation. The ATM is sometimes
taken as a paradigmatic case of technology substituting for workers; the ATM took over cash
handling tasks.7 Yet the number of fulltime equivalent bank tellers has grown since ATMs
were widely deployed during the late 1990s and early 2000s (see Figure 2). Indeed, since
2000, the number of fulltime equivalent bank tellers has increased 2.0% per annum,
substantially faster than the entire labor force.8 Why didnt employment fall? Because the
ATM allowed banks to operate branch offices at lower cost; this prompted them to open
many more branches, offsetting the erstwhile loss in teller jobs (Bessen 2015). At the same
time, teller skills changed. Non-routine marketing and interpersonal skills became more
valuable, while routine cash handling became less important. That is, although bank tellers
performed relatively fewer routine tasks, their employment increased.
Even though the ATM automated routine cash handling tasks, the technology alone
did not determine whether employment of tellers grew or fell; economics mattered. New
technology can increase demand for an occupation, offsetting putative job losses. Nor is this
example exceptional:
Barcode scanners reduced cashiers checkout times by 18-19%, but the number of
cashiers has grown since scanners were widely deployed during the 1980s.
9
Since the late 1990s, electronic document discovery software for legal proceedings
has grown into a billion dollar business doing work done by paralegals, but the
number of paralegals has grown robustly.1

pretty interesting
---

But to you who are listening I say: Love your enemies, do good to those who hate you, bless those who curse you, pray for those who mistreat you.

<cite>Balrog0 posted [p:926015246] in Apparently... [t:77936314]...</cite>
<quote>http://www.bu.edu/law/files/2015/11/NewTech-2.pdf

Nevertheless, the figure provides reason to question the assumption that automating
a task eliminates jobs. In fact, automation can increase demand for the affected occupation
as well as decrease demand. Consider, for example, the effect of the automated teller
machine (ATM) on bank tellers, a routine-intensive occupation. The ATM is sometimes
taken as a paradigmatic case of technology substituting for workers; the ATM took over cash
handling tasks.7 Yet the number of fulltime equivalent bank tellers has grown since ATMs
were widely deployed during the late 1990s and early 2000s (see Figure 2). Indeed, since
2000, the number of fulltime equivalent bank tellers has increased 2.0% per annum,
substantially faster than the entire labor force.8 Why didnt employment fall? Because the
ATM allowed banks to operate branch offices at lower cost; this prompted them to open
many more branches, offsetting the erstwhile loss in teller jobs (Bessen 2015). At the same
time, teller skills changed. Non-routine marketing and interpersonal skills became more
valuable, while routine cash handling became less important. That is, although bank tellers
performed relatively fewer routine tasks, their employment increased.
Even though the ATM automated routine cash handling tasks, the technology alone
did not determine whether employment of tellers grew or fell; economics mattered. New
technology can increase demand for an occupation, offsetting putative job losses. Nor is this
example exceptional:
 Barcode scanners reduced cashiers checkout times by 18-19%, but the number of
cashiers has grown since scanners were widely deployed during the 1980s.
9
 Since the late 1990s, electronic document discovery software for legal proceedings
has grown into a billion dollar business doing work done by paralegals, but the
number of paralegals has grown robustly.1

pretty interesting</quote>

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Current Events > Apparently ATMs actually increased the number of bank tellers