With all the havoc in the financial markets, and the serious implications of the unemployment rate, it seems it all may stem from the increase in technology.
Just today, I hit CNN.com and found this article that relates exactly to what I have been reporting on all week. Technology killing jobs.
http://www.cnn.com/2011/OPINION/09/07/rushkoff.jobs.obsolete/index.html?hpt=hp_c1
"New technologies are wreaking havoc on employment figures -- from EZpasses ousting toll collectors to Google-controlled self-driving automobiles rendering taxicab drivers obsolete. Every new computer program is basically doing some task that a person used to do. But the computer usually does it faster, more accurately, for less money, and without any health insurance costs."
People are so worried about jobs, yet technology is killing them.
Within the business world companies are constantly trying to find ways to cut costs to raise earnings. Technology can help with that, eliminating employee salaries and replacing them with machines. But this in turn drives the unemployment number up., Hurting markets as a whole. So since the company is making more money, the rich executives are getting richer, whereas the people at the bottom are getting replaced by machines and losing their salary. This stems the biggest question of all, is technology advancement hurting the U.S. economy? Indirectly... It may be....
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