CTE410 UNIV OF IDAHO Technology and the Transformation of Work Essay

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Question Description

1.The development of a market economy stimulated technological and economic development, but at the expense of rather cold-blooded approach to human relationships. Is this a fair trade-off? Explain.

2. List at least 3 jobs that have been rendered obsolete by technological change. Are these jobs so unpleasant that they are better done by machines?

3. What are some new products and services that have been created by technological advance during the past 20 years? To what extent are they "essential" parts pf contemporary life?

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Running head: TECHNOLOGY AND THE TRANSFORMATION OF WORK

Technology and the Transformation of Work
Name
Institutional Affiliation

1

TECHNOLOGY AND THE TRANSFORMATION OF WORK

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Technology and the Transformation of Work
The market economy
A market economy refers to an economic system where the prices of goods and services are
determined by unregulated competitors in the private sector (Zaman 2010). As such, anyone
wishing to get the product or service have to give something in return. In the modern world,
goods and services are exchange for monetary resources meant to create profit for the producers.
In my opinion, this kind of tradeoff is not a fair one.
On the one hand, there must be the creation of need for the people in production to run their
economic affairs. As such, ideas have to be brought up where a gap is created in the economy
and the peop...

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