Essay about Ict Revolution, Productivity, And ( Un ) Employment
We are currently being faced with a third industrial revolution comprised by the exponential changes in technology and digital advancement. The past two industrial revolution have created new economic opportunities and have ultimately made the global economy what it is today. Mass jobs have been created, new ideas have spread, and businesses have boomed due to the two main revolutionary advancements in history. The current problem with the technology wave is that there are far too many unanswered questions about what it will do for our economy. In the past, increased advancements have led to economic growth and development to developing and developed countries alike. Now with technology growing exponentially, the economy is at fear of automated jobs taking over those previously occupied by the unskilled workforce. Previously unskilled workers could get by with cheap labor and low maintenance costs, but with increasingly cheap and dynamic technology the demand for this labor is decreasing.
The Facts to be Analyzed: ICT Revolution, Productivity, and (Un)Employment
Computers are now conceiving aspects of reality that manufacturers, engineers, and designers once thought were inconceivable. Information and communication technology (ICT) is growing exponentially with very few limitations. For the last several decades, we have discussed how technology will make lives easier for all Americans. Now, this technology is making things so easy that the average human is…