Creative destruction or destructive destruction?

New technologies are coming out every year and the global economy is moving forward due to these changes more than two centuries. It affects an economic growth, productivity, opportunities for new business types, our lives. Technological advancements or technological disadvancements? That is a question. The main interest of this research is to analyze the impact of innovations on (un)employment from the theoretical point of view. This is a topic of great interest because it reveals the tendencies and the problems labor market encounters due to technological change. Researchers in many ways define the impact of innovations on (un)employment. According to J. B. Say (2009) and J. A. Schumpeter (2017), technological progress leads to process and product innovations (job creation effect). According to J. C. Wood (2004) and H. Feldmann (2013), technological change can increase unemployment. Other scientists distinguish a different impact of product and process innovations on (un)employment: product innovations provide new products on the market, what stimulates a new demand (positive impact on employment) (Bogliacino, Vivarelli, 2012; Vivarelli, 2014; Marcolin et al. 2016) and process innovations are related with new machines, equipment and an increase in productivity and efficiency of firms (negative effect on the labor force) (Pianta, 2004; Vivarelli, 2014). In general, the theory doesn’t provide a clear-cut answer about the impact of innovations on (un)employmentEkonomikos ir vadybos fakultetasVytauto Didžiojo universiteta