Please type down (easy for me to copy and paste) your response (thoughts) after
ID: 1136656 • Letter: P
Question
Please type down (easy for me to copy and paste) your response (thoughts) after your reading the following paragraphs. (min 5 sentences, around 150-200 words)
The lecture delivered by Scalabre mentions a new manufacturing revolution. He says that technology going hand in hand with manufacturing will bring about the advent of the next industrial revolution. Once the productivity of our factories increases then the consumption of those products will increase as well. This also means that each individual will have a smaller economic share as the population increases as well. I think that this is for the most part true, but I feel as if once technology becomes pervasive in our lives our standard of living will increase as well.
One of my biggest concerns is how Scalabre’s model is based on the assumption that consumption increase no matter what. It also works under the assumption that increases directly will economic growth. I feel that automation takes away more of the economic share out of the hands of the average individual. This means that consumption of products becomes stifled without normal circulation. Population density increases and consumption increases, but the demand for jobs also increases.
Explanation / Answer
Answer:
*i have tried to explain the paragraph by connecting economic factors with each other hope it will help you. sorry its bit lengthy to your word limits