Technology is tightly wound into the every day lives of both economist, and the economy as a whole. Technology plays such a vital role in every day business that even the smallest increase in innovation can lead to huge profit gains. This ultimately affects the supply and demand curve over the long run. Since it changes so rapidly it is often a hard factor to consider. However technology also affects policy makers and the the outcomes they choose. New policies can have both huge negative or positive affects on the economy. Although technology is a single factor, it plays a huge role in where the economy heads and the accuracy of economist to predict it.
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