Page 27 - digitalliteracy

1.3 How Technology Has Transformed

the Way We Work

Fifty years ago, people typically graduated from high school and found a job. They often held
an entry-level position at a company and over the years worked their way up through posi-
tions of greater responsibility. They often stayed at the same company until they retired at
age 65, when they received a gold watch, their Social Security income, and a company-paid
pension that afforded them income through their retirement.

Today a college education affords an individual many more career opportunities than a high
school or GED diploma does, and it is rare for contemporary companies to provide pensions
to their employees. Workers must save money on their own for their retirement, and as you
may have heard, the Social Security system may not have enough funds to support people
who retire in the future (Ferrara, 2015). In Module 10 we will explore the topic of financial
literacy and suggest ways you can manage your finances to ensure you have enough money to
live well and retire comfortably.

We can point to many social and economic changes that have altered the way we work. Per-
haps the greatest source of change, however, has been the growth of new technology (see A

Closer Look: Do You Remember When. . .?). The downsizing of businesses in the United States
began in the 1980s, primarily due to technological advances. Computers could make deci-
sions faster and often better than people, and people who processed or analyzed information
and made routine decisions found their jobs in danger (Boyett & Cohn, 1991).

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