What are the macro effects of technological change? Discuss the pros and cons of the effects of technological change giving suitable examples.

Technological change has far-reaching macro effects that shape various aspects of society, the economy, and the global environment. These effects can be both positive and negative, impacting everything from employment to global trade, economic growth, and environmental sustainability. 

One significant macro effect of technological change is its impact on productivity. Advances in technology often lead to more efficient production methods, enabling businesses to produce more goods and services at lower costs. For instance, the automation of manufacturing processes through robotics and AI has significantly increased productivity in industries like automotive and electronics, allowing companies to scale operations quickly while reducing human labor costs. This increase in productivity _______ ___ ____ ______ __________ _______ ____ __________ ______ ________ __________.
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