Final answer:
Additive manufacturing, such as 3D printing, is considered by many to be a disruptive technological advancement to business with significant impact on manufacturing, potentially more than the Internet. History demonstrates that while such disruptions can negatively impact jobs and economies initially, societies eventually adapt, leveraging new technologies for growth. Support for workforce adaptation rather than technology prevention is favored in market-oriented economies.
Step-by-step explanation:
Many people believe that additive manufacturing or 3D printing might be more disruptive to business than the Internet, primarily due to its revolutionary potential impact on manufacturing processes. Additive manufacturing enables the creation of complex shapes and structures that would be either impossible or prohibitively expensive with traditional manufacturing methods. It allows for on-demand production, which could greatly minimize the need for warehousing and reduce shipping costs. Moreover, it presents the potential for significant customization, which could transform mass production into mass customization. Just like the digital revolution's impact on photography and music, additive manufacturing could lead to job losses, the fall of established businesses, and changes in regional economic landscapes. However, history has shown that while technological disruption can have immediate negative impacts, most societies adapt over time, finding new ways to leverage technology for economic growth and job creation.
As a theoretical example, consider a hypothetical American company called Technotron that develops a new technology to increase the output and reduce cost, potentially outperforming competitors and causing disruptions such as job losses and bankruptcies. In market-oriented economies, people generally oppose government intervention that blocks innovation, recognizing the necessity of technological change despite its disruptions. Instead, many argue for temporary societal support for the affected workforce, retraining, and government-funded R&D to help firms adapt and compete.
In short, technological advancements like that of Technotron are not substantially different in their socioeconomic impacts from other factors of a dynamic market economy, such as shifts in consumer preferences, luck, or competition. Though they pose challenges, these changes also offer opportunities, and society's role is to support adaptation rather than prevent progress.