Transformation In The Institutions Of Work And Economy Due To Technology Term paper
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The revolution or transformation in the institutions of work and economy due to technology came about through a shift in the means of production and of consumption. Means of production refers to the process by which the production of material goods is carried out in a society. In today’s world this process is carried out by people, with the major product being knowledge and/or information, not through factories or machines. Means of consumption is the process by which the consumption of a product by a society is carried out. In modern societies this is done through malls, shopping centers, self-employment and the Internet.
Knowledge has become the main product produced and consumed in our post-industrial society. As post-industrial implies industry, the manufacturing of goods through factories or with machines, is no longer the driving force of the economy nor the major employer of workers. Services and information cannot be produced...
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