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How Technology Affects Modern America The human race has been using technology since man first chipped stone blades to improve their hunting tools Throughout history humans have looked for better ways to meet their needs and satisfy their expectations Technological evolution has advanced man from the dark ages to the enlightenment and from the agricultural period to the industrial revolution Today we live in the Information Age a time in which it seems computers permeate every facet of the human experience In 1942 economist Joseph A Schumpter wrote that technological change incessantly revolutionizes the economic structure from within Whalen He correctly predicted that technological change would be the core of economics Technology has had an immediate impact on the US economy in several ways Technological advancements have changed industry influenced US wage trends transformed the American idea of work and revitalized the stock market with the creation of technology stocks Technology Industry The US industrial sector has been steadily reorganizing gathering strength and improving its efficiency since the 1970s Today the US is again one of the worlds most productive manufacturers Advances in manufacturing technology have led to increases in productivity that contributed to the economic boom of the 90s Todays products last longer function more efficiently and are often less costly than a decade ago Hall The refrigerator is a perfect example It is the biggest energy user in a household Ten years ago a new technology - the scroll compressor - was introduced Refrigerators today are 30 to 40 more efficient This saved consumers 20 billion in electricity costs during 1997 alone savings that go right into consumers pockets in the form of disposable income for the family Hall There are a couple of important reasons for the improvement of manufacturing technology First the use of computers in industry has allowed manufacturing companies to automate processes in much faster ways These can be office procedures such
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