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Economics

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I have to discuss the growth of modern technology's impact on transaction costs. What points do you think I should discuss?

  • Economics - ,

    If I were writing such an essay, I would first discuss the multitude of ways that technology has lowered transaction costs. I would discuss improvements in speed and reliability. Then I would try to work in something about
    Types of labor (jobs) being phased out.
    Types of labor (jobs) being phased in.
    Capital/labor shifts
    Effects on national and international competitiveness
    Problems introduced by new ways of doing things.
    etc.

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