The Key Role Of Working In Modern Society

Working in Modern Society

There have been many significant changes throughout the modern age of America; this can be especially seen in the economy. Starting in the 1980’s there have been three significant changes that have played a key role in the reconstruction of the US economy, these are: New Technologies, Globalization, and a move to a knowledge based economy. These changes have occurred from a marginal and general perspective, therefore, this now accounts for the overall reform of working in a modern society. A Knowledge based economy is defined as, "Production and services based on knowledge-intensive activities that contribute to an accelerated pace of technical and scientific advance, as well as rapid obsolescence. The key component

The knowledge based economy would work on its own but with the incorporation of globalization it has advanced in its authority. Ultimately, globalization is intended to expand and increase the economic integration which will make for an increase in investment and trade. Globalization accounts for all aspects of life, whether it is political, cultural, etc. Globalization is ensuing a borderless world, a protracted area where everybody is given the freedom to share ideas, opinions and innovations, with this come an enormous amount of possibilities. Sharing ideas has allowed for the hunt of new ones, creativity is developed and knowledge is heightened to new levels. Thus, proving that it is a boost to the US and its knowledge based

These changes have not only had an effect on the economy but even more so with the people who are in it. An example of this rise in the new economy is the need for people to go to college, with a higher education comes a better future. A college degree can help give someone an advantage over others that are in the job market. A different example of this would be outsourcing, this is where a company uses labor outside of their company, usually in places like Asia. This is done to reduce the expense of labor for their parts and the hiring costs involved. “…Knowledge and information tend to be abundant; what is scarce is the capacity to use them in meaningful ways. Nor is knowledge easily transformed into the object of standard economic transactions. To buy knowledge and information is difficult because by definition information about the characteristics of what is sold is asymmetrically distributed between the seller and the buyer. Some kinds of knowledge can be easily reproduced and distributed at a low cost to a broad set of users, which tends to undermine private ownership. Other kinds of knowledge cannot be transferred from one organization to another or between individuals without establishing intricate linkages in terms of network and apprenticeship relationships or investing substantial resources in the codification and transformation