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But technology has cut both ways.
Since then, technology has cut trading costs, making the business more attractive.
But there is no sign of falling demand for news, and technology has cut the cost of collecting and distributing it, so the supply is likely to increase.
Peter Horrocks, head of BBC Global News, recalls "a comfortable world".New technology has cut costs and demolished most barriers to entry.
While chip and PIN technology has cut fraud using lost or stolen cards, "phishing" scams – where fraudsters send emails purporting to be from a customer's bank and try to elicit confidential information from them – has rocketed.
Technology has cut media distribution costs and made available a vast new array of material that caters to specialised or obscure tastes, in music, video or the written word.
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Donald MacRae, chief economist at the TSB Bank Scotland, says that although gains in technology have cut the number of farm workers, the number of farmers has stayed roughly the same over the past 10 years.New uses are also being found for land.
The whole ordeal does consume a lot of energy, but advances in reverse-osmosis technology have cut the total amount of energy used in desalination by about half in the past two decades.
http://t.co/EuLZInCdxW pic.twitter.com/nB6uXoDFSu April 24 , 2014Nick Molho, head of climate and energy policy at WWF-UK said: "At a time where energy security and the cost of living are taking centre stage in UK politics, proposals to ban onshore wind, a reliable technology that has cut its cost globally by 43% in just four years, come across as highly irrational.
The technology slump, however, has cut both ways for the museum.
Time Inc., the largest magazine publisher, is still negotiating with the technology giant but has cut a deal in which subscribers to Sports Illustrated, Time and Fortune can read the magazines free on the iPad as long as they verified their identities.
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