The statement "We are in the midst of a second industrial
revolution" refers to the current era of technological advancement and its
impact on society. Like the first Industrial Revolution, which brought about
significant changes in production and commerce through the use of machines,
the Technological Revolution is bringing about radical changes in the way we
work and live.
Advancements in communication, transportation, and science
have led to the creation of faster and more efficient modes of
transportation, such as jet planes and supersonic planes, as well as
improvements in the assembly line and the use of automation in various
industries. Computers and electronics have taken over many complicated and
sensitive jobs, leading to concerns about job loss. However, advocates of
technology argue that new jobs will be created, and people will have more
leisure time.
The Technological Revolution has also led to significant
advancements in science and space exploration, with man even setting foot on
the moon. However, as machines increasingly take over jobs, there is a fear
of unemployment, and there may be organic changes in humans as they adapt to
this new way of life.
As we move into the future, the challenge will be to provide
for the leisure hours of millions and ensure that the benefits of
technological advancements are distributed fairly. With psychology being
applied to business problems and technology managing business more
scientifically, it is no longer just a simple question of production,
distribution, supply, and demand.
In conclusion, the Technological Revolution is a second
Industrial Revolution that is bringing about significant changes in society.
While there are concerns about job loss and organic changes in humans, there
is also the potential for new jobs and more leisure time. The challenge will
be to ensure that the benefits of technological advancements are distributed
fairly, and society is prepared to adapt to this new way of life. |