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How Does Technology Foster Economic Growth

How Does Technology Foster Economic Growth

Technology is an important part in economical growth. Technology aids in the ease of work and production. It makes our work load a whole lot easier. If it were not for technology, it might take us three times as long to do something that we could do in a third of the time. For instance, computers are probably the first item that someone thinks of when talking about technology. Many businesses rely on computers for their company to run smoothly and become better. There are many other things that are overlooked when it comes to technology helping economic growth.

When Alexander Graham Bell created the first telephone in 1876, it really was a great contribution to our economy. There are many transactions and deals done over the telephone. If it were not for this invention, the Internet would not be used and there would not be sales using credit or debit cards. This is a very useful part of technology that is used to help t


"The productivity growth trend is likely to both continue and accelerate because U.S. firms in recent years have been spending more on capital equipment- new technologies- than at any time since the 1960's" (2, p.33).

2) Author Unknown. Fortune 3 April 1995: p. 33.

Jobs are greatly affected by technology. Most of them are made easier by technology. It is good to have technology in a free enterprise system. It enables the private business to operate competitively for profit with minimal government regulation. This allows a business to be able to add technology in order to keep up with the other businesses. So this new technology added can help simplify the worker's job. Technology in a free enterprise system is very important to have. Without technology and advancements, it would be much harder for the economy to expand.



Some common words found in the essay are:
Graham Bell, Online Jobs, System Technology, Net Direct, Unknown Fortune, Economic Growth, technology businesses, enterprise system, free enterprise system, free enterprise, economic growth, productivity growth, Author Unknown, enterprise system technology, easier technology, advertising businesses, technology free, businesses increase, 1 online, technology free enterprise,
Approximate Word count = 681
Approximate Pages = 3 (250 words per page double spaced)


  

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