The economic growth of any locality or city is country is determined by a number of factors and is essential to further survival and existence. Basic human necessities comprising of food and shelter are fulfilled via a key aspect in today’s world; money. Previously, before the inception, people involved themselves in agriculture and barter trade and therefore fulfilled their basic necessities. But as the world progressed we came up with innovative to carry on with our lives.
The Advent Of Technology:
Technology found its way into the integral parts of our lives mainly after the post-World War era whereby industrialization sped up at a rapid rate and the demand for machines and innovative devices also increased. Newer technologies were explored and several experiments were conducted to lay down results and produce devices to ease up everyday tasks. Fast forward to present, nearly everything is digital. From our smartphones to our businesses to our home based appliances to small gadgets we use regularly, technology is everywhere. Robots are operating on surgeries; people are buying and selling online; communication is done on a global scale; information is stored in computers and literally invisible clouds, all kinds of research is available on the internet and much more. Technology is everywhere!
Technology And Economic Growth:
Economic growth is determined when there are sufficient tools and products to fulfill the requirements of the population in general of any country or region. The method of measuring Economic Growth is by inquiring whether or not there has been an actual increase in the Gross Domestic Product (GDP) from one year to the other as growth in GDP denotes the market equivalent of all measurable values produced by one economy. In retrospect, majority of our industry has succeeded primarily due to technology.
Has Technology Led To Innovative Thought Processes?
Technology has no doubt triggered people to think out of the box and way beyond their comfort zone and has eventually engulfed the population of the world into its realm as we know it. Life without technology is now inconceivable. We rely on Google Maps to guide us towards the routes, we rely on the internet for conducting all kinds of research whether academic based or for professional purposes, we rely on technology to communicate on a global scale and we are frequently relying on technology to bring about new changes to our existing world.
Many other paradigms exist, however the point is that it is merely by engaging in the thinking procedures practiced in these areas that one can be exposed to numerous ways of thinking, examining, and questioning. Miscellaneous experiments are being performed to justify theories and come up with new remedies to the current problems. You can research all kinds of topics on the internet from your bed only and kick-start your cerebration mode from there only!
Has Technology Been Aiding In Boosting Economic Growth?
If you consider the present times, a lot of our economic growth is directly related to the integration of technology into our lives. A simple example is when we envisage an under developing country or a Third World country, we automatically picture a village setting with no electricity or electronic gadgets or basically, any technological advancement. That mirage only elaborates how we consider technological integration to be a factor of progression and prosperity.
With the introduction of automated processes ranging from industrial work to mundane tasks as well, there had been a wide backlash as people feared losing their jobs, and yes this was the case as well and in some places continues as well. But with time, it was observed that machines are subject to malfunction and damage as well and the cognitive abilities of a human are irreplaceable. Therefore, humans are required to manage those very machines which were initially replacing them.
You can research all kinds of tips on the internet but simultaneously, you can acquire the services of a live human from the internet to assist you practically. Whether you are a student requiring thesis writing help or whether you need a logo designed for your company etc., possibilities are endless. This sum up to an unswerving enhancement in productivity, output, and supply as per demand and cost minimization as well as everything is accessible with ease. As a result, technology has been, and continues to affect the way we determine our economic growth in the future as well.