Autoblog 5.0

Tuesday, November 1, 2011

Creative Destruction: The Concise Encyclopedia of Economics | Library of Economics and Liberty

Creative Destruction: The Concise Encyclopedia of Economics | Library of Economics and Liberty: "Technology roils job markets, as Schumpeter conveyed in coining the phrase “technological unemployment” (Table 1). E-mail, word processors, answering machines, and other modern office technology have cut the number of secretaries but raised the ranks of programmers. The birth of the Internet spawned a need for hundreds of thousands of webmasters, an occupation that did not exist as recently as 1990. LASIK surgery often lets consumers throw away their glasses, reducing visits to optometrists and opticians but increasing the need for ophthalmologists. Digital cameras translate to fewer photo clerks."

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