Question

. Technological change is an important driver of economic growth. Find a story about a new innovation, (The “Technology” column in the Wall Street Journal Marketplace section is a good place to find one).In addition to providing a link to the article complete the following:

1. Briefly describe the article

2. How will this innovation affect the US production possibilities frontier?

3. Does is it seem to affect employment as well?

4. If so which type of workers will be harmed?

Please note this should be no longer than two pages..

Answer 1

Technology can have a huge impact in economic growth. A disruptive technology can certainly boost the growth of an economy immensely and can give employment to people in huge numbers.

One such example of technology that can disrupt economic growth is electric cars.These cars can reduce the consumption of non renewable energy resources to a great extent which can really drive the economic growth for many countries as the forexainly depends on the oil prices and so on..This can also boost the economy in terms of the jobs that can be created from these electric cars

US economy is already an early adaptor for this technology.

The extent to which it has penetrated is low at this moment but can certainly become a big phenomenon once the awareness for the same gets created in huge numbers.Then we will start seeing the rapid increase of the growth of the economy directly influenced by the disruption of this technology.l