Why is technology not making us more productive? ( www.bbc.com )

marche_ck , 11 months ago

There is also another side to this: a lot of these “tech companies” are not really built to provide meaningful products and services, instead their aim is for speculative valuation in the stock market.

There is also the use of tech in bussiness that is inherently unproductive economically. Like all the shops on Amazon, they are mostly selling the very same thing out of Amazon’s warehouse bins. These “online business entrepreneurs” aren’t actually adding anything new to the market.

Then there is also tech companies “cannibalising” on existing markets. For every tech companies rapidly rising, there are tens to hundreds of brick and mortar businesses going under. Added together the total sum of resultant economic growth will of course be very much smaller than expected.