Comparing the development of steel and the invention of the computer chip, explain how technological development drove economic change in both the industrial revolution and the transition to a service-based economy.
Question: Comparing the development of steel and the invention of the computer chip, explain how technological development drove economic change in both the industrial revolution and the transition to a service-based economy.
Both the development of steel and the invention of the computer chip drove significant economic change in their respective eras. In the industrial revolution, the mass production of steel led to the creation of new industries and infrastructure, such as railroads and skyscrapers. Similarly, the invention of the computer chip led to the creation of new industries and services in the digital age, such as software development and e-commerce. Technological advancements in both eras have driven economic growth and created new job opportunities, shifting the focus from manual labor to knowledge-based jobs.
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