Technology and Business: Difference between revisions
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The concept that technological developments benefit high-skilled laborers is a 20th century idea. As the supply of more skilled laborers rose from the 1950's on, technologies that were developed took advantage of these skilled laborers, making them more profitable. During the previous century, assembly line technology utilized low skilled workers, but now new technologies rely on a smaller, more concentrated, highly skilled class of workers. While technology has eliminated positions of some low skilled workers, it has created new job positions in its wake---for highly skilled labor. For example, companies may not need to employ as many workers as before when technology requires less human interaction with the product, but new positions for the maintenance of the existing technology as well as development for newer technology are created. | The concept that technological developments benefit high-skilled laborers is a 20th century idea. As the supply of more skilled laborers rose from the 1950's on, technologies that were developed took advantage of these skilled laborers, making them more profitable. During the previous century, assembly line technology utilized low skilled workers, but now new technologies rely on a smaller, more concentrated, highly skilled class of workers. While technology has eliminated positions of some low skilled workers, it has created new job positions in its wake---for highly skilled labor. For example, companies may not need to employ as many workers as before when technology requires less human interaction with the product, but new positions for the maintenance of the existing technology as well as development for newer technology are created. | ||
Overall, technology has served to better the well being of society as a whole, making our lives easier and more convenient. However, displaced low skilled workers are negatively affected because it is harder for them to land the new norm of jobs---those of the high skilled nature such as software designers. This leads to one conclusion: The development of technology in recent decades dictates that in order to posses a relatively stable job in the workforce, a worker is almost always better off if they have received specialized training and/or education. Such higher training and education provides more opportunities to fill needed positions created by developing technologies, which, in turn, help the continual growth of the economy and the generation of more jobs. The higher paid jobs of skilled workers increase the purchasing power of these agents in the market, driving up the demand for goods and services, stimulating economic growth and creating more jobs in unrelated areas of the market. | Overall, technology has served to better the well being of society as a whole, making our lives easier and more convenient. However, displaced low skilled workers are negatively affected because it is harder for them to land the new norm of jobs---those of the high skilled nature such as software designers. This leads to one conclusion: The development of technology in recent decades dictates that in order to posses a relatively stable job in the workforce, a worker is almost always better off if they have received specialized training and/or education. Such higher training and education provides more opportunities to fill needed positions created by developing technologies, which, in turn, help the continual growth of the economy and the generation of more jobs. The higher paid jobs of skilled workers increase the purchasing power of these agents in the market, driving up the demand for goods and services, stimulating economic growth and creating more jobs in unrelated areas of the market. | ||
Revision as of 00:04, 27 April 2006
The concept that technological developments benefit high-skilled laborers is a 20th century idea. As the supply of more skilled laborers rose from the 1950's on, technologies that were developed took advantage of these skilled laborers, making them more profitable. During the previous century, assembly line technology utilized low skilled workers, but now new technologies rely on a smaller, more concentrated, highly skilled class of workers. While technology has eliminated positions of some low skilled workers, it has created new job positions in its wake---for highly skilled labor. For example, companies may not need to employ as many workers as before when technology requires less human interaction with the product, but new positions for the maintenance of the existing technology as well as development for newer technology are created.
Overall, technology has served to better the well being of society as a whole, making our lives easier and more convenient. However, displaced low skilled workers are negatively affected because it is harder for them to land the new norm of jobs---those of the high skilled nature such as software designers. This leads to one conclusion: The development of technology in recent decades dictates that in order to posses a relatively stable job in the workforce, a worker is almost always better off if they have received specialized training and/or education. Such higher training and education provides more opportunities to fill needed positions created by developing technologies, which, in turn, help the continual growth of the economy and the generation of more jobs. The higher paid jobs of skilled workers increase the purchasing power of these agents in the market, driving up the demand for goods and services, stimulating economic growth and creating more jobs in unrelated areas of the market.
