Education and Technological Innovation
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Do you agree with Shively that education and technological innovation are the two factors that will help address three of the primary economic problems facing states today: unemployment, inflation, and creating sustained economic growth?
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Solution Summary
The expert examines education and technological innovations for factors of economic problems facing the state. Unemployment, inflation and creating sustained economic growth are determined.
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Education and technology go together, since there is no technology without a trained cadre of workers who can innovate, operate and maintain.
1. There is the argument that technology increases efficiency, putting more value into the economy at less cost, saving money for other pursuits. Any dislocation that technology causes for workers can be made up over time.
2. The real problem is that technology causes unemployment, meaning that growing populations have fewer jobs. Yet, the argument could also go another way - that more efficient production frees up money for other consumptions, and therefore, more jobs are created in those areas.
3. Education is meant not only to train us for new technologies, but retrain ...
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