Technology played a central role in driving economic growth from "summary" of The affluent society by J.K. Galbraith
Technology, with its remarkable ability to innovate and improve efficiency, has been the cornerstone of economic growth throughout history. It has not only revolutionized industries but has also transformed the way we live, work, and interact with each other. The advancements in technology have led to increased productivity, which in turn has fueled economic expansion and prosperity. One of the key ways in which technology drives economic growth is through automation and mechanization. Machines and robots have replaced manual labor in many industries, leading to higher output and lower costs. This increased efficiency has enabled businesses to produce more goods and services, thus contributing to economic development. Moreover, technology has facilitated globalization by connecting markets and enabling companies to operate on a global scale. The internet, in particular, has revolutionized the way businesses conduct transactions, communic...
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