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:
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?
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