âConventional wisdomâ seems to indicate that technology results in taking jobs from people and resulting in lost jobs and higher unemployment. However, conventional wisdom is often wrong.
In 1811, a group of people in England protested the introduction of automated looms to make clothing. This group became known as the Luddites, and they believed that the machinery would result in loss of jobs. However, the equipment resulted in cheaper clothing â now people could afford more than one change of clothes! Since that time, people who oppose technology are known as Luddites.
Review pages 128-132. For your essay, describe one or more technologies that impact production (do not use the assembly line example from the text). What has been the impact of this technology? Your book notes that specialized skills can be made obsolete through change. What was the social cost of this technology?
Technological change doesnât happen by itself â resources must be devoted to the process. Should the US government fund research? What types of research? Comment on industrial policy âshould the government be involved in shaping the future path of our technology?
âConventional wisdomâ seems to indicate that technology results in taking jobs from people and resulting in lost jobs and higher unemployment. However, conventional wisdom is often wrong.
In 1811, a group of people in England protested the introduction of automated looms to make clothing. This group became known as the Luddites, and they believed that the machinery would result in loss of jobs. However, the equipment resulted in cheaper clothing â now people could afford more than one change of clothes! Since that time, people who oppose technology are known as Luddites.
Review pages 128-132. For your essay, describe one or more technologies that impact production (do not use the assembly line example from the text). What has been the impact of this technology? Your book notes that specialized skills can be made obsolete through change. What was the social cost of this technology?
Technological change doesnât happen by itself â resources must be devoted to the process. Should the US government fund research? What types of research? Comment on industrial policy âshould the government be involved in shaping the future path of our technology?
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