Technology has been affecting economy before the study of economics was officially recognized. From the very beginning human history huge technological advances have been the deciding factor in the rise and fall of empires. With each leap forward human lives have become less physical and more cerebral: less time hunting and gathering means more time that can be spent creating technological solutions to everyday problems.
Since the invention of the wheel, the momentum of technology has a been a driving force in the evolution of human life and how we interact with the world. World economies have been at the mercy of technological advances ever since markets emerged out of the prerequisite bartering systems. Technology contributes to the advancement of itself and it is the compounding of these advances, growth of world economies, and restructuring of human lives that has accelerated the rate of significant advancements.
Beginning of a Tech Based Economy
Sea-faring merchants of 14th and 15th centuries were the first step in creating a connected global economy. It connected the world in a way that had never been seen and opened borders to far away cultures and products. New inventions were able to reach every corner of the world and change it. Shrinking maps and new economic schools of thought brought about economic strategy and the first intellectual property laws. This new atmosphere of competition brought around more and more technological advances and spread the new world economy across the globe. Although it is hard to reconcile today’s incredible tech with inventions of the past, it is because of devices like the sextant and the cotton gin that our economy is so technology based today.
Accelerating change is an increasingly popular idea. The theory being that the more advanced technology becomes the shorter leap it is to make further advancements. Because of the inventions of tools we were able to make machines, which led to factories, and whole new way of conducting business and producing merchandise, more specifically Brother Toner cartridges. The natural filtering out of weaker ideas and retailers who cannot compete has led to even faster developments. With the discoveries of the past today’s innovators can piggyback to even greater heights then their predecessors’. This accelerated change is painting a picture of dazzling future where human lives may be lengthened and improved. On an accelerated timeline it is not impossible to imagine yourself living in a world where common problems have been solved by technology.
Accelerated Change and the Economy
This theory are already impacting the economy. From iPad’s to the Apps they use technology is one of the last confidently sought out shares in the worlds otherwise tumultuous economy. The supply and demand of vogue technologies has already brought the economic demands of large nations to smaller ones around the world. Effecting foreign relations and how the global economy operates. These demands that start with the rise and fall of prices on the stock markets filter down into every part of our society.
The need for more efficient work has forced the business world to digitize completely and for the workforce, relearn skills to match the modern age. With more advancements on the horizon the learning curve continues to lengthen, demand higher qualification, and eliminate blue collar jobs. As discussed before, this process changes the face of human existence and brings in more intellectual pursuits, thus starting the cycle of accelerating change again.
The timeline of human history has been enormously affected by technology. Overtime and because of existing technology the acquisition of knowledge has become far easier. With access to a computer the entire history of human existent is at your constant disposal. This ability and access to past mistakes and successes gives modern man a huge head start in advancing the species. Through the elimination of nomadic lifestyles, a competitive global economy, and the principle of technology begetting more technology accelerating change becomes more prevalent each day. As the weight of history compels us to keep seeking a better world through this cycle of technological advancement we can only expect the pace of discoveries to increase.