Luke is about to drop his history class because he has a major paper due that he hadn’t started yet. It turns out that the topic of this paper is the same topic his mother wrote when she was in college, but she was less than thrilled with her grade on the paper. She asks Luke to turn it in for her to see if she was cheated out of a grade.
In order to get the paper onto a flash drive, Claire had to go through some lengthy measures to convert the file from its original form decades earlier to a flash drive. We see the amount of technological change Claire has experienced in just her lifetime with the multiple computers linked together.
See more: creative destruction, Joseph Schumpeter, technological change, technology
Video cassettes have been replaced by DVDs and streaming services and are slowly becoming an outdated technology. Before getting rid of their VCR, Claire and Phil are going through their VHS collection and watching the movies one last time. Joseph Schumpeter conceived the idea of creative destruction in which new technologies are created at the cost of destroying old industries. From a labor economics perspective, growth in some sectors come at the cost of losing jobs in the industry that is replaced.
See more: creative destruction, Joseph Schumpeter, opportunity cost, tastes and preferences, technological change, technology, tradeoffs