Реферат: Influences On Society Essay Research Paper Influences
impression that the pace of changes has accelerated. The rapid decline
in price also encourages more people to buy more technology, allowing
it to be distributed more widely (Economy Survey 10). Technology has
greatly influenced many economic systems of the world. Japan is a
prime example. One of the many great boosts to its economy after
W.W.II, was the innovation of new technologies that other countries
would like. With these new technologies, Japan has become one of the
strongest economies of the world. A look back at American history can
show that technology was a great influence on the economy. During the
Industrial Revolution, trains helped pave the way for small business
in towns formed by these railroads, and trade among cities and other
countries increased at a rate of almost 40% a year. With the help of
Henry Ford, the idea of the production line (which is still cons!
idered a technology), helped lead to production of thousands instead
of hundreds of automobiles. The PC and communication revolution of
recent years has caused almost every company small, and large, to
incorporate the use of computers in order to make these companies’
goals more feasible. One advantage of technology’s influence on
economies is that it reduces communications and transaction costs,
helping markets to work more efficiently (10). Technology also follows
Says Law of supply creating its own demand. VCR’s, PC’s, contact
lenses, Super Nintendo’s, etc., are good examples of creating markets
out of thin air and in turn, helping the economy. At the same time,
rapid technological change is confusing and rapid forecasts are easily
hyped, which can cause some negatives for the economy too and
adversely, affect technological progress. Technology is greatly
influenced by economics in the form of funding and demand for new
technologies. Imagine what would have happened if the PC was invented
during the Great Depression. There would not have been any “PC