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Concepts: Technological progress, innovation, creative-destruction process, CPI, consumer needs

Background: Stranger Things is set in the 1980s, when walkie-talkies, phone booths, portable media players such as the Walkman and boomboxes were widely popular.

Question 1: Think of the items you use to call your friends and listen to music. What changed since the 80s, and how does it affect our daily life?

Question 2: What else do you do with your smartphones? What would you have to buy to replace your smartphones if smartphones were not available anymore? Altogether, would it be more or less expensive than a smartphone? What is the impact of the introduction of new goods, such as smartphones, on the CPI?

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Concepts: Technological progress, creative-destruction process

Background: The editor of the Conscience explains that readers prefer to read the news online rather that on a traditional newspaper. Information technologies (e.g., internet) have made this transition possible. Technological progress is an essential component of productivity and is usually considered positive for a country's economy.

Question: Discuss whether technological progress actually benefits everybody in society. Are there potential losers of technological progress?