Technology creates jobs

Technology creates jobs

Technology creates jobs

One fear that Americans have about capitalism is the fear of job loss due to technological advances. This fear emerged recently when President Obama stated that automatic teller machines (ATM’s) were one cause of our current high unemployment.Whenever this subject arises, I am always reminded of when I purchased a slide rule http://www.cheapjerseys11.com/ in 1960. In those days, a slide rule was cheap jerseys used to quickly do math calculations and was primarily a tool of engineers and engineering students, of which I was one.Slide rules were very expensive, but I was fortunate to buy a used one for $20, about $200 in today’s money. Luckily, it was not long before pocket calculators were invented and hundreds of slide rule makers became unemployed. If President Obama had been president then, he would have pointed to the pocket calculator as a reason for high unemployment.Now, we have the privilege of knowing the rest of the story.The first calculators were also expensive, but soon gave rise to a cheap variety, affordable by all. These cheap calculators were then supplemented by computers, also originally expensive, but now found in most homes. Today, with certainty, we can say there are millions more workers employed in the calculator/computer industry than were ever employed making slide rules.

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