Various Sectors Of The Economy Essay Example
Various Sectors Of The Economy Essay Example

Various Sectors Of The Economy Essay Example

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  • Pages: 4 (893 words)
  • Published: May 8, 2022
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Rapidly advancing technology poses a threat to the job security of many Americans across various sectors of the economy as machines are increasingly capable of replacing workers in multiple industries.

One consequence of a single expert being able to efficiently control a machine program is the potential loss of jobs for many Americans. In particular, workers in administrative support, logistics, transportation, and labor production occupations may be replaced by "computer capital." This shift is predicted to have the greatest impact on low-income individuals with limited skills, leading to an increase in inequality between skilled and non-skilled workers. As technology rapidly advances, those who can invest in it benefit while resources are redirected from human capital to machines. The implications for human welfare resulting from this development are uncertain. However, it is worth noting that digital technologies and machine intelligence have had a significantly positive effect

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on American society.

Thanks to advancements in technology, machines can now assist humans in their jobs, allowing them to concentrate on tasks that require human skills. This progress also opens up more job opportunities for researchers and professionals who can enhance machine performance and improve service quality. Utilizing technology enables individuals to solve intricate problems and streamline work processes, enabling them to allocate time towards engaging, thrilling, and meaningful tasks. Ultimately, this empowers individuals to effectively accomplish their goals.

Technological advancements have improved the quality of life through faster and more efficient services, resulting in increased production across different sectors of the economy. Furthermore, innovative technologies have significantly contributed to enhancing Americans' security. This concept can be compared to Plato's "The Republic" and its cave analogy, which symbolizes technological progress and its impact

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on society.

The people in the cave represent those who are accustomed to existing technologies, while the shadows symbolize their perception of reality regarding technology. Society's scientific progress in technology signifies a departure from the current understanding and usage of technology in society. A significant portion of the population is anxious about technological advancements and reluctant to deviate from the norm of current technology. This fear stems from the belief that advancing current technologies may have uncontrollable negative consequences. Failure to employ technology properly may result in people losing attachment to activities they deem valuable.

Some people find meaning and fulfillment in their jobs, even though machines may eventually perform those tasks more efficiently. In the past, people have underestimated or disregarded the impact of technology in various fields. Predictions about the impact of different technologies can be uncertain, leading scientists to present predictions based on illusions and their own understanding. This creates a dilemma when making decisions about whether to advance a particular technology. Uncertainty surrounds the advantages of new technology, which is further complicated by cultural practices that influence scientists' perceptions in different geographical and cultural locations. It becomes challenging to establish basic principles on the ethics of research. In this case, research ethics should guide scientists from all parts of the world and alleviate anxiety surrounding technological advancement.

It is risky to advance technology without considering the potential lack of control over these technologies. For instance, genetic engineering and modification could lead to the emergence of a new species that is susceptible to diseases. Furthermore, if toxic energy develops with no means of countering it, it could potentially eradicate the human population. While positive results

are sought after, the absence of proper control and management during technological advancements makes negative consequences unavoidable.

It is concerning when innovative advancements in technology end up in the wrong hands, as these individuals may manipulate the intended purpose of these technologies. Ethical research standards play a crucial role in preventing scientists from developing technologies that may harm society. Nonetheless, a dilemma arises regarding advancements that may justify breaking these standards for the betterment of humanity.

The US and China have differing opinions regarding the deletion of embryo genes in the pursuit of creating humans with specific desirable traits, while China remains open to exploring the use of machines to replace human labor. China does not believe that achieving consensus on ethical standards is a priority at this time. The potential consequences of using robots and machines, such as increased antisocial behavior, decreased work commitment, and heightened inequalities, may deter the adoption and development of new technology and prompt the establishment of strict ethical guidelines for research. It is important for individuals to break free from their conventional thinking and allow the advancement of new technology, as it appears to be inevitable. Although there will be challenges in adapting to these new technologies, individuals will eventually become accustomed to them over time, even if initially they seemed too futuristic to attain.

Governments should establish plans to help mitigate the negative impacts of future technology (Stephens, 2013).

References

  1. Bostrom, N. (2014). Superintelligence: Paths, Dangers. Strategies, 30-36.
  2. Geertz, C. (1994). Readings in the philosophy of social science.
  3. Roland, J. T., & Haynes, D. S. (2011).

Cochlear Implants: Adult and Pediatric (Vol. 45, No. 1). Elsevier Health Sciences.

  • Rus, D.
  • (2015). The Robots Are Coming. Foreign Affairs, 94(4), 2.

  • Stephens, D. (2013). The Retail Revival: Reimagining Business for the New Age of Consumerism. John Wiley & Sons.
  • Tatlow, D.
  • K. (2015). A scientific ethical divide between China and West. New York Times, 29.

    Wolf, M. (2015).

    The title of the article is "Same as It Ever Was: Why Techno-Optimists Are Wrong (Digest Summary)." It was published in Foreign Affairs, volume 94, issue 4.

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