Introduction
Every technological revolution is often hailed as a brilliant new dawn of opportunity. However, it seldom takes long for businesses, institutions, and society as a whole to realize that the status quo is in jeopardy. The novel techno-economic paradigm usually emerges as the most effective way to achieve success in any field (Hilbert, 2020). However, while survival constraints, profit-seeking, and competitive forces help diffuse economic changes, substantial institutional and social inertia rooted in routine, ideology, and vested interests usually stifle progress (Hilbert, 2020).
The discrepancy in development rates between the socio-institutional and techno-economic domains causes significant strife that impacts communities in various ways. Over the past two decades, technological evolution has had an immense impact on the economies of various societies. The contextualization of transformations in economic conditions in the American and South African contexts is essential, as it highlights the positive and negative impacts of technological change on society.
Society and Technology
The assessment of the effects of technology on society would be mute without an analysis of the influence of modernity. Marx’s argument that a capitalist economy defines modernity is underpinned by his acknowledgment of the significance of the advancements made possible by the shift from pre-capitalist to capitalist cultures (Vohland et al.,2021). In Weber’s view, the rise of formal rationality is the primary issue facing modern society (Vohland et al., 2021).
The actor’s decision-making process in selecting tools and objectives is incorporated into Weber’s formal rationale (Vohland et al., 2021). In this instance, the decision is based on generally accepted laws, conventions, and regulations. The iron cage of rationality emerged as a result of Weber’s position (Vohland et al., 2021). The aforementioned cages imprison people and stop them from exhibiting basic human traits. Societal actions, values, and beliefs are therefore influenced by transformations in the immediate environment, the largest of which has been technology.
Technology has the potential to impact society in immensely positive ways. It can help address famine, illness, and climate change, which are among the greatest challenges humanity must contend with (Wolff, 2021). Technology is a key economic engine for individuals who believe that innovation and the potential for creative destruction can boost economic growth and improve the quality of life (Wolff, 2021).
However, technology can also be leveraged as a tool for oppression and the spread of fear. It can introduce biases through automated decision-making and information-processing algorithms, thereby greatly exacerbating economic and social disparities within and between nations (Wolff, 2021). Technology can also facilitate the development of novel warfare strategies and weapons capable of causing apocalyptic destruction (Wolff, 2021). The highlighted impacts have varying consequences across the regions under review.
The American Context
Technology has brought numerous benefits to the United States. For instance, its application has resulted in increased productivity (Imdadullah, 2023). Employees can produce a large volume of goods and services when they have access to better equipment and technologies (Imdadullah, 2023). Businesses in the United States have experienced a decline in production costs and an increase in revenues as a result. The aforementioned organizations have used the additional resources to fund further creativity and expansion. It should be noted that the US has witnessed the emergence of new sectors and employment opportunities driven by technological expansion.
Emerging technologies have created new markets for products and services (Imdadullah, 2023). The resulting economic growth has led to the establishment of new companies and the creation of employment opportunities. The American market has undergone a transformation characterized by increased efficiency driven by the deployment of numerous technological solutions (Imdadullah, 2023). This has been achieved by using technology to ease transactions between buyers and sellers and by lowering the cost of information.
There are, however, certain drawbacks to adopting technology in the American economy. For instance, the adoption of novel technologies has precipitated job displacement. The use of new technologies has rendered certain forms of work obsolete, thereby precipitating social unrest and unemployment, as seen in the current artificial intelligence revolution (Imdadullah, 2023). Artificial intelligence has advanced to the point where it has superseded humans in a variety of intellectual tasks, such as disease diagnosis and speech recognition (Hilbert, 2020).
For instance, AI technologies experienced a reduction in the word error rate from 26% to 4% between 2012 and 2016 (Hilbert, 2020). A large number of companies have laid off employees as they adopt and incorporate artificial intelligence into their operations. The distress caused by the loss of income-earning opportunities negatively impacts the population’s morale and overall productivity.
The fact that not every individual usually benefits equally from advances in technology poses an additional challenge (Imdadullah, 2023). In the United States, some people have found it easier to adjust to new technologies than others. The additional costs associated with reskilling and additional training have precipitated significant economic losses. The resultant social division and inequity have adversely affected the fabric of American society.
The South African Context
The increased adoption of technology in South Africa has precipitated numerous positive economic changes. Developing nations can achieve quick economic growth and bypass conventional developmental stages by utilizing technology (Imdadullah, 2023). Moreover, poverty and other challenges South Africa faces can be addressed using technological solutions.
The increased utilization of Information and Communication Technology (ICT) in South Africa has improved access to basic services and facilitated knowledge exchange (Aruleba and Jere, 2022). This gives communities a chance to focus on providing goods and services, while also enhancing access to digital development for ongoing improvement (Aruleba and Jere, 2022). Sectors and enterprises that utilize these technologies are evolving rapidly as the South African economy expands. Most of the impact has been experienced in sectors such as education, healthcare, and agriculture (Aruleba and Jere, 2022). Businesses in the aforementioned industry form the backbone of the nation’s economy.
When everyday life is disrupted by technology, society responds in strong and often violent ways. In the past, the general public has opposed the introduction of new technologies. For instance, the Luddite rebellion in the early 1700s occurred because workers disrupted new manufacturing systems and destroyed machinery in an effort to fight the rapid advancement of technology (Roberts et al., 2022). Workers believed that the capitalist class was using cutting-edge innovations to exploit ordinary citizens, leading to violent opposition (Roberts et al., 2022).
South African workers are susceptible to the deleterious impact of automation. There are signs that the highlighted vulnerability will lead to a reflexive backlash against automation technologies (Roberts et al., 2022). Regardless of their work situation, people with low incomes in South Africa have expressed concern about technological change (Roberts et al., 2022). Violent protests are likely to hamper economic activities and devastate the nation’s growth.
The inevitable changes the workforce is likely to experience as a result of adopting highly efficient production techniques could be deleterious. The South African government is presently exploring ways to supplement earnings as the workforce transitions to new technologies, such as universal basic income or more expansive minimum wage laws (Roberts et al., 2022). However, providing displaced workers with income support and other types of transition assistance is challenging for the nation’s already stretched public budget (Roberts et al., 2022). The challenges the government faces are further compounded by the population’s negative attitude towards technology, which they perceive as a threat to their livelihoods.
Conclusion
Technology has heralded social evolution across regions. It has transformed lives and precipitated unprecedented economic growth in rich and poor nations alike. The benefits experienced in the reviewed regions of the world differ slightly. While in America, technology has largely increased efficiency and productivity, it has enabled nations such as South Africa to skip certain economic development stages and create numerous opportunities for their people.
The demerits in the studied areas are largely similar. Both the United States and South Africa have experienced job losses and social strife as a result of adopting production techniques. The aforementioned challenges notwithstanding, technology has revolutionized the nature of work in both social contexts. The populations have experienced significant economic growth, which has largely improved people’s lives.
Reference List
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Hilbert, M. (2020) ‘Digital technology and social change: the digital transformation of society from a historical perspective’, Dialogues in Clinical Neuroscience, 22(2), pp. 189–194.
Imdadullah, K. (2023) ‘The role of technology in the economy‘, Bulletin of Business and Economics, 12(2), pp. 427–434.
Roberts, B.J. et al. (2022) ‘Promise or precarity? South African attitudes towards the automation revolution‘, Development Southern Africa, 39(4), pp. 498–515.
Vohland, K. et al. (2021) ‘Citizen and netizen society: the meaning of social change from a technology point of view’, Jurnal Mantik, 5(3), pp. 1564–1570.
Wolff, J. (2021) ‘How is technology changing the world, and how should the world change technology?‘, Global Perspectives, 2(1), pp. 1–5.