Monday, February 13, 2017

Is the U.S. Economy Too Dynamic, or Not Dynamic Enough?

This articles states that US economy has become too volatile and uncertain because of technological advancement and lack of creation of new businesses. Automation causes unemployment and leaves less occupational opportunities for workers without advanced education. At the same time, large corporations are busy increasing their profit and neglect the costly side effects of improved technology that the society must bear. This situation is worsening by the decline in the emergence of the new firms. Since 1977, percentage of new firms entering to the US economy has fallen to half. The market concentration and profit have been increasing for the large companies. So, not enough jobs are created to accommodate the unemployment caused by the technological advancement.

1 comment:

Anonymous said...

Hi Kyi!

I like what you wrote about the article, and I'm interested in reading the whole article. Could you post a link to it, please?