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molecular imaging and analysis of
live cells. It’s these kinds of innova-
tive companies and ventures that are
helping to spread technology to other
economic sectors, which multiplies its
impact on our overall economy.
But with opportunity, there also are
challenges. In his recent book, Race
Against the Machine, Brynjolfsson and
his co-author Professor Andrew McAfee,
also an economist at M.I.T., point out
that technology is responsible for
eliminating many jobs as well.
The authors’ views are not embraced
by all economists. Robert J. Gordon,
an economist with Northwestern
University, recently gave a speech at the
American Economic Association. His
title: “Is U.S. Economic Growth Over?”
His answer: No. “Think about when you
came into the airport this morning,” he
said. “Did you use one of those kiosks?
Well, that has eliminated the job of
someone who used to check you in -- so
technology is still eliminating some
jobs. “But most of the job replacement
from technology has already happened,”
he added. “If you define technology as
everything that has happened since
the first computer was invented in 1946,
we have only eliminated tedious and
boring jobs. Now what we are seeing is
the replacement of one technology with
another. CDs are being replaced by iPods,
laptops are being replaced by iPads.”
And while his book is something of
a cautionary tale, even Brynjolfsson is
optimistic about technology’s ultimate
impact both on our economy and
lifestyle. “It’s true that in our book, we
are concerned with a lot of areas where
job creation isn’t keeping up,” he says.
“But we are also ultimately optimistic
about technology and job creation.”
While the book offers 19 specific
recommendations on balancing job
creation and technological innovatio
the solution is essentially twofold,
Brynjolfsson adds.
“The first is that we have to invest i
education, so people can keep up with
new technology,” he says. “The U.S. us
to be number one in education, but w
have fallen behind. “The second part
of the solution is to invest in boosting
fostering and encouraging entrepre-
neurship,” he adds. “Entrepreneurship
is what drives the economy and it’s
ultimately where new products and
service come from. So even with all t
success the high-tech sector has had,
we need to broaden its scope to the re
of our economy.”
But that will happen only through
the hard work of technology pioneers
who have decided to invest in the U.S.
as well as academic partners who hel
further educate and enlighten the
population about the uses and benefi
of new technology. “That way it’s not
much a Race Against the Machine as
Race With Machines,” says Brynjolfs-
son. “We’ ll be using machines to boost
both productivity and employment at
the same time.”
AUTO-MATION
Many of the jobs eliminated by robotics in the auto industry have already b
eliminated. In the future, machines will be used to increase both productivity and employm
“ENTREPRENEURSHIP IS WHAT DRIVES THE ECONOMY AND
IT’S ULTIMATELY WHERE NEW PRODUCTS AND SERVICE
COME FROM. SO EVEN WITH ALL THE SUCCESS THE HIGH
TECH SECTOR HAS HAD, WE NEED TO BROADEN ITS SCOPE
TO THE REST OF OUR ECONOMY.”
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