Transformation in the Institutions of Work and Economy due to Technology
Title: Transformation in the Institutions of Work and Economy due to Technology
Category: /Law & Government/Government & Politics
Details: Words: 305 | Pages: 1 (approximately 235 words/page)
Transformation in the Institutions of Work and Economy due to Technology
Category: /Law & Government/Government & Politics
Details: Words: 305 | Pages: 1 (approximately 235 words/page)
The revolution or transformation in the institutions of work and economy due to technology came about through a shift in the means of production and of consumption. Means of production refers to the process by which the production of material goods is carried out in a society. In today’s world this process is carried out by people, with the major product being knowledge and/or information, not through factories or machines. Means of consumption
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kinds of jobs available in a society, has shifted control to the worker. As technology allows many of the jobs of old, in factories, assembly lines, etc., to become automated, workers today must become educated, obtain knowledge, to become good producers. Individuals now have power, as they own the means of production, and the means of consumption has become the way to make money. Those that own the means of consumption will become top dogs.