Technology Do Work

topic: Does modern technology make life more convenient, or was life better when technology was simpler?

The third great wave, known as the digital revolution are changing people’s life in every aspects. While some people reckon that it will benefit everyone, others may argue that technological wave does more harm than good, resulting in vast unemployment. Be that as it may, from my point of view, the digital revolution will ultimately bring great improvements to people’s living standard and human welfare. However, just like the last two industrial revolution, it takes time.

The improvements in technology have largely boosted the productivity. The most obvious evidence could be found in the service sector. The invention of ICT (Information and communication technology) , for example, has made higher education accessible to people all around the world, allowing education resources exchanging with little cost. In addition, machine technology could aid diagnosis, allowing doctors diagnose more patient more effectively at lower cost. All of these advances in technology produces huge savings and significantly raise the efficiency.

So does it in the industry and economy world. So far, machine and robots could produce more high quality products with less time than normal labor. Nevertheless, complains about the job-destroying effect of the technology are rising, people believe mass fortune will be shifted to those who commanding the lastest technology, leading bigger gap between the poor and the rich. This is deemed a fallacy, as productivity has always been a matter of cutting down labor. When labor is cheap enough, firms are more likely to use cheap labor rather than investing money in expensive machine. This can be largely seen in many emerging countries, such as China. They tend to remain high employment, while the productivity and GDP performing are flat. Although technology displaces workers from a particular occupation it enriches others, who spend their gains...