New technologies transform our lives “by inventing new, undreamed of things and making them in new, undreamed of ways�?, 650-621 says the economist Richard Lipsey.
Imagine what will happen when the cost of a long distance telephone call becomes as low as the cost of a local call? Or, when you can get a driving license at a time and place of your own choosing? Or, when you 646-230 can bank from the comfort of your own living room? In some countries, ICT is already making these happen. Many believe that the current technological revolution may in time exceed the Industrial Revolution in terms of social significance.
Lipsey, who studies the relationship between technological change and economic development, suggests that the introduction of new technologies can have the following effects on society :
* Initial productivity 642-901 slowdown and delayed productivity payoff from the new technologies
* Destruction of human capital (as many old skills are no longer wanted)
* Technological unemployment (temporary but serious)
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