These new communications technologies have had an impact on the academic community as well. Professors and students can communicate with each other around the world almost as easily as they can on the same campus. The reduced importance of geographic distance has contributed to the globalization of markets, which is dramatically affecting U.S. businesses, both large and small. This globalization is forcing whole industries to make major adjustments to stay competitive. At the human level, rapid change in technology and globalization of markets create a sense of insecurity in many people.
People worry about their jobs, even amid general prosperity and low unemployment.
New technologies and new organizations require new skills. The skills and talents once valued become obsolete. Some people have the capability to retool and others don't. Those without marketable skills fall further and further behind. Major technological changes generate both job creation and job destruction.