This article talks about how
individuals are turning “lazy” and that this is negatively impacting the
economy. Specifically, economist Tyler Cowen talks about how society lacks
innovation nowadays and the growth of technology has further pushed innovation
back. Even parenting these days has discouraged innovation. That being said, I
think if innovation is present a unique aspect can help achieve economic growth
and can impact the economy positively.
Moreover, innovation would lead to
an increase in entrepreneurship. An increase in entrepreneurship would increase
establishing businesses and thus create more jobs for workers in the economy,
and helps the economy move forward and helps contribute to reaching the goal of
full employment.
Cowen argues that nowadays there
are major segregations present based on race and socioeconomic class. These segregations
are another reason that innovation is not present as individuals even from a
young age are segregated with other individuals in their same class and race
and do not interact with other individuals of different races or classes.
Cowen talks about how even till today in the
US many students are not meeting the basic education standards. I think
education is also a significant factor for economic growth and focusing on the
education sector can achieve growth via a direct investment in human capital.
This way human resources are given education and they achieve better jobs,
which helps promote employment and achieve economic growth.
link: http://money.cnn.com/2017/04/12/news/economy/us-economy-big-problem-tyler-cowen/
2 comments:
I thought that this article was interesting. I would agree that people are getting lazy and no being so innovative. this will hinder the economic growth of the United States in the future. I agree that education is not as strong as it use to be but that could be a benefit for college students like us because employers know that we want to become better educated and that is why we went to college which will help us when searching for jobs.
I agree with Zach and Shaaref, we are becoming lazier and this will eventually affect our economic growth. This can also be due to the standards that are placed in school. We need to continue to encourage people to continue a higher education as well as follow career paths in the STEM department.
Post a Comment