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Why Technology Failed to Deliver on its Promise!


Decades ago, it was thought that technology would allow us to work less and enjoy life more. Some predicted a workweek of 20-hours or less. Today, we seem to be working longer hours than ever! Have you ever wondered why technology hasn't delivered on the promise of a more leisurely life? The answer reveals one of the more significant problems in our economy today, though it has a surprising silver lining.

Technology hasn’t resulted in a shorter work week because of the way the economy responded to automation. From the beginning of the Industrial Revolution in the mid-1800s until the 1970s, salaries rose in lockstep with production. Better tools enabled workers to produce more and they earned more. But that changed with automation in the ‘70s. Wages flattened as automation replaced workers and