The Economic and Financial Committee (ECOFIN)

Topic: Automation and Structural Unemployment

Background
In recent decades, many governments have emphasized the benefits of the technological revolution while neglecting structural employment consequences. Rapid technological advancements in robots and artificial intelligence threaten the stability of global labor markets: some economists estimate that 80% of jobs run the risk of replacement. Currently, 220 million individuals worldwide face unemployment, which is only expected to grow as the global population is projected to reach 9.8 billion by 2050. Furthermore, automation exacerbates labor market inequality as technological progress increases demand for higher education and declines wages for low-skilled workers. Automation also disproportionately impacts developing countries as they have limited social safety nets to mitigate labor market disruption. The goal of the ECOFIN committee is to craft the best global preventative and response measures to address employment disruptions caused by rising automation. How should governments adapt labor market institutions to the economic changes resulting from automation? What steps should countries take to mitigate the employment effects of technological progress? Will these policies and guidelines differ between developed and emerging economies?

Director Biography
Liana McGhee is a junior at Harvard studying Social Studies with a Secondary in Psychology. She is from the suburbs of Chicago, Illinois, obsessed with matcha lattes, and a Modern Family fanatic. Liana is a competitive delegate and the Director of Training for Harvard Intercollegiate Model United Nations, Harvard’s competitive travel team where she competes in exclusively GAs. She was also a director for HNMUN-Boston 2024, where she chaired HNMUN’s first ever Ad Hoc General Assembly committee. Outside of Model UN, Liana writes for a Harvard undergraduate political publication, attempts to make pottery, and goes to pilates classes with her friends.

Liana is very excited to chair the ECOFIN at HNMUN Africa 2024 and embark on what will surely be a memorable conference with you all!