Is Twitter bad for businesses? Top economist thinks so
- Credit: PA
Technology could be changing our brains in a way that is bad for business, a senior economist has warned in a speech at the University of East Anglia (UEA).
Andy Haldane, chief economist at the Bank of England, said there could be 'cognitive costs' to the information revolution, including becoming more reflexive and impatient.
People display increased 'short-termism' in all areas of life, he said, which could block education achievement, investment and creativity.
The rise of Twitter was especially evidence of our decreased attention spans, he said.
'We are clearly in the midst of an information revolution, with close to 99 per cent of the entire stock of information ever created having been generated this century,' he said. 'This has had real benefits. But it may also have had cognitive costs.'
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