The Importance Of Technology And Technology

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To say that the 21st century has seen an absurd amount of technological advances is an understatement. The ratio of amount of data stored by amount of space needed has decreased exponentially in recent years. In the 1960s, Gordon Moore, a engineer at the time, made the prediction that transistors would shrink in size by half every two year and to this day, that was has been the case. Artificial intelligence and machines automation are specifically making leaps and bound. Apple’s work with Siri has left its competitors scrabbling to create similar softwares such as Amazon’s Echo. Automatic shopping terminals also work in many stores across the country making life easy for both consumers as well as corporations. Additive manufacturing (or 3D…show more content…
Based on traditional economic theory, the reason that something as ubiquitous as money exist is because of scarcity, or the fact that wants are unlimited and supply is limited. As technology continues to improve, there’s evidence that at some point in the near future, this inherent scarcity might not be case. Economist refer to an economy where items can be produced with little to no cost as a post scarcity economy. Evidence of the beginnings of this transition already exist. When median household income has remained stagnant, GDP per capita has increased even despite the recession (JEREMY HOWARD). While today in factories, only 8 percent of task were automated, 10 years from now, that percentage is expected to triple to 24% (OLIVER SCALABRE). It is important to consider that products would be produced more efficiently in an automated facility than with human labor, but that is also hundreds of thousands of jobs lost. A common objection to the idea of a “Laborless Society” is jobs that are too human. Child Care is often one of them. Despite this, companies are working tirelessly to create intelligences able to work with humans on emotional level (LEVIT). A New York Times article by Alexandra Levit even cites the implementation of nursing robot. These nursing robots look like giant white bears, assist patients out of beds as well as hold simple…show more content…
When we have more goods to go around, less people will have none. That said, Keynes also acknowledges the fact that this system will not fix itself. This is because of the way our current system works to incentivizes those who have much to keep all. The increasing of the copyright duration is an example of this. While originally copyrights were suppose to expire after 30 years, protection can now last as long as 100 years due to the Sonny Bono Copyright Term Act (COPYRIGHT.GOV). If cooperation has the potential to lose a valuable asset, it will do anything it its power to keep it, even if that something is

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