The Importance Of Technological Innovation
In this modern age, technological innovation inundates us. Nearly every person, regardless of income, has a cell phone, computer, and a car. The pace of innovation is so fast that some people believe the government should take a leadership role in its production. They fail to realize, however, that if the government were to assume control, progress would be tied up in red tape, and we would never know what innovations could improve our lives.
The rapid growth of technology causes concerns about unemployment. Consequently, some petition the government to protect their jobs. Is this a wise decision? As John Stossel says in his TV special Tech Revolution, “Whenever there’s been innovation, experts predict that employment will decline. But the experts can’t imagine the new jobs.” A well-known example of technological progress without government interference is Henry Ford’s mass production of cars. He developed a system of conveyor belts that reduced the time it took to make cars from 12 hours to 2 hours and 30 minutes. At first, not many people could transition from a carriage to an automobile. Yet, as more were produced, prices dropped, and more people could enjoy the benefits of faster, lower maintenance transportation. True, some people undoubtedly lost their jobs making carriages. They had to find new jobs, possibly at Henry Ford’s factory. His system of conveyor belts led to the creation of the assembly line mode of production, an innovation that brought vastly greater
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