Non-Benefits of Technology

In class, we discussed the relevance as well as the importance of new technologies. More specifically, we discussed how technological advances spurred economic growth due to efficiencies in production. However, while increased efficiency is still true today, there are greater implications from technological advances that are leaving dire consequences. According to the article posted in the New York Times, while technology does produce greater output, it leave many unemployed as work that would normally require 100 people, now only requires 10, thus pushing a lot of people out of the workforce and therefore unemployed.


http://www.nytimes.com/2011/11/27/magazine/changing-rules-for-success.html?ref=economy