Question

TPA resistance to new techngology

Answer 1

The discussion revolves around whether to prevent new technology to protect existing firms or support progress while aiding displaced workers. Historical examples support embracing change, with society better off providing retraining and research opportunities rather than impeding technological advances.

Step-by-step explanation:

Considering the hypothetical scenario of Technotron, the argument centers around whether the U.S. government should intervene to prevent the implementation of a new scientific technology that may cause economic disruption by causing other firms to lose money, lay off workers, or go bankrupt. Blocking such technology could preserve jobs in the short term but would impede progress; history demonstrates that technological advancements, such as electricity or medical improvements, often disrupt existing industries but are generally seen as beneficial overall. Instead of blocking new technology, providing temporary support and investing in programs for retraining and acquiring additional skills, as well as supporting research and development, are suggested as more constructive responses to technological changes.

Answer 2

Technotron has developed a new technology that increases output and quality while reducing costs and workers needed. Should the US government protect existing firms by banning Technotron's technology? Most people in market-oriented economies oppose blocking better products that lower costs, with support for temporary assistance and programs to help those impacted by technological change.

Step-by-step explanation:

In this scenario, Technotron has developed a new technology that allows them to increase output and quality while reducing costs and the number of workers needed. As a result, other firms in the industry will lose money and may have to lay off workers or even go bankrupt. The question is whether the United States government should protect the existing firms and their employees by making it illegal for Technotron to use its new technology.

Most people in market-oriented economies would oppose blocking better products that lower the cost of services. Instead, there is a case for society providing temporary support and assistance for those who find themselves without work. This could include retraining programs, acquiring additional skills, or supporting research and development efforts so that other firms can find ways to compete with Technotron. Blocking the new technology altogether, however, would be seen as a mistake, as disruptions due to technological change are generally viewed as a necessary cost worth bearing.