Young People Use Technology to Push Aside the Old People and Old Ways - David Colander

The video discusses how technology fundamentally changes the world, particularly in economics. It highlights the role of computers in empirical analysis and the ongoing changes they bring. Despite these advancements, institutions often resist change to protect existing rents. Successful social movements involve evolving into new societal structures while balancing focus. The generational shift plays a crucial role, as younger people adopt technology differently than older generations.

How has technology influenced the field of economics according to the video?

• It has fundamentally changed economic practices.

• It has only affected the financial sector.

• It has had little impact on economics.

• It has made economic analysis more complex.

What is a major reason for resistance to economic change as discussed in the video?

• Insufficient government policies.

• Desire to protect existing economic rents.

• Lack of technological advancements.

• Cultural differences.

What role do institutions play in economic change according to the video?

• They only focus on technological advancements.

• They have no impact on economic change.

• They are designed to protect existing rents.

• They always promote economic progress.

How do younger generations contribute to societal evolution?

• By adopting and using technology differently.

• By avoiding the use of technology.

• By using technology in the same way as older generations.

• By resisting technological changes.

What natural process is mentioned as a mechanism for societal change?

• Cultural shifts.

• Technological innovation.

• Economic recession.

• The cycle of life and death.