Conventional theory of economy claims that technology and technological development are key factors to economic growth, while economic growth is central to capitalism and institutions created on this ideology. In this paper, the importance of technological investments will be re-examined for both national and global economic growth, having in mind the notion that technological innovations depend on the institutions of the free market system. The growth of the national economy also depends on the employment rate. Therefore, the idea that technological progress might devalue human labour regardless of the level of education will also be discussed in this paper. Since technological innovations bring changes within the actual socioeconomic system, they also bring anxiety.
