Some scholars and economists are now suggesting that current global downturn is happening because there is no new technology around which can survive economy. Since the industrial revolution, mankind has depended upon machines and electronics and indirect way those inventions have helped global economy on move. But since the mobile and internet technologies, we haven’t seen any major invention and lack of new technology, there is no driving force for money to flow around.
In early 1900s, telephone and car industry made a huge impact and they were the first of few technologies that were involved and counted a big part in economy. After that, we have seen electronic chips, television, computers, etc becoming part of our daily life. It’s the new technological development that brings new projects from government, construction for new buildings and sites, skilled worker employments and prosperity in our lives. Currently, we are just seeing upgraded versions of computers, laptops, mobile phones, websites, mp3 players, etc and there is no great product on horizon that can start global economy moving again.
Important projects like robotics, nano-technology, fuel-cell powered vehicles, biotechnology, etc are still in development phase and scientists are not sure when these technology will be available to mass audiences. Until we will not able to see any of these technologies in production line, there are very less chances that global economy will recover.
I just can't believe that there is nothing that Mr. Viral Shah can't do it.
ReplyDeleteIs this spiritual Viral or social Viral or writer Viral?
Great going, please do not stop. Keep bringing positive change in your life and others.
Well, about the issue which has been raised by you, I would like to say that every person tries to see this major global event in such a view through which they can convince themselves that "We will get over it".
Hi, thanks for the comments.
ReplyDeleteI am not sure which Viral writes these blogs but I am sure that he lives among us and sees positive and negative energy floating around and he is trying to gather positive potentials from everyone and share it to everyone.
I hope that I will learn something new and when I will look back after couple of years from now, I shoule see some positive changes in my life and in others' life as well.
And, yes, we will get over this financial crises.