as you are aware from your readings in chapter 8 long run economic growth is caused by increased productivity of labor or capital

As you are aware from your readings in chapter 8, long run economic growth is caused by increased productivity of labor or capital. Technological progress can cause either of these to occur. For you fifth Discussion Topic, identify a recent technological advancement and explain how it has increased the productivity of labor, capital or both – and how these leads (or will lead) to economic growth. An all too abbreviated example is this:

The Internet, first introduced to the public in the 1990’s, has increased the productivity of labor by allowing an automobile repairman to download the car’s symptoms from a database, and make his diagnosis about what parts need replacing. This will save many hours of test driving to discover the problems for himself and testing of the individual components for their functionality. As a result, a single car mechanic can now repair three times the cars in one day than he could prior to the Internet. If the productivity of a worker tripled, his income would go up as would his spending and so, then, would the level of economic activity.

Don’t use the Internet. Think of a technological advancement with which you are familiar because of your job, your personal interests or for some other reason.

 
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