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America’s Dazzling Tech Boom Has a Downside: Not Enough Jobs

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Keith Maldonado

The technology revolution has delivered Google searches, Facebook friends, iPhone apps, Twitter rants and shopping for almost anything on Amazon, all in the past decade and a half.

What it hasn t delivered are many jobs.

Google s Alphabet Inc. and Facebook Inc. had at the end of last year a total of 74,505 employees, about one-third fewer than Microsoft Corp. even though their combined stock-market value is twice as big.

There is a growing sense of frustration that people haven t seen the progress that their parents and grandparents did, says Erik Brynjolfsson, a Massachusetts Institute of Technology economist whose work has chronicled how technology widens the income gap between rich and poor.

The bursting of the dot-com bubble in early 2000, the recession in 2001 and deepening globalization proved to be turning points for the tech economy and its broader impact on American prosperity.

Based in Boise, Idaho, Micron was founded by Idaho farmers and businessmen, including the late billionaire J.R. Simplot, who supplied McDonald s Corp. with most of its frozen french fries and had MR SPUD license plates on his pickup truck.

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Keith Maldonado
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