Josh Sibio
Econ- Macro
April 18
http://technologyaffectstheeconomy.blogspot.com

                  It is often thought that the economy has a mine of its own and it just follows the natural order of supply and demand.  This article explains the role of technology in our economy, and how it can almost be directly linked to the rise and falls of the economy.  The article give examples and explains how our technology is closely connected to our nations wealth, standard of living, employment, and communication.
                 First, the article talks about how technology has changed the market place.  Its almost a no brainer to see how technology has revolutionized the way we look at goods.  Now-a-days the majority of us use the internet, and statistically in America the average amount of retail sold form online purchases is at six percent and scheduled at this rate to be twenty percent in ten years.  Being able to use the internet gives the buyer a better ability to make sure what they are buy is what they actually want and giving them the tools to research for the best good for them.  According to this article "a happy consumer quals a happy economy."  Also, the internet creates an environment for the buyer to buy on impulse. Which we know we all have done, but the more people buying puts more money into the economy which also is a benefit.    
             Second, the the article explains how technology makes our economy better buy increasing more production and in turn increases GDP.  The continuos advancements in technology has made creating products more efficient.  Meaning less money spent and more products made.  Having more products made drives the prices down and can mean more people spending money.  Being able to create many more products opens the door to international trade.  Being able to produce enough for both Home and over seas has increased our national trade more than ever, which many believe is our best hope to help our national debt.    
             Lastly, with more technology being used, the more specialized one has to be able to operate it.  With many types of machinery requiring more specialized types of talents  which causes the operator to have more education.  Companies are having to pay higher salaries for these people with higher education to make sure that they get the  employee that they want.  In a way more technology equals higher salaries and higher increase in pay contributes to the nation's increase of wealth.