The Importance Of Technology And Development In Economic Development

The heavy usage of machinery and fossil fuels required in industrialization leads to high amounts of carbon emissions. The mass amount of raw materials used in each industry accumulates and

There would be many possible implications on the Chinese economy if they expanded their infrastructure investment. Expanding infrastructure investment may increase Chi-na's attractiveness as a destination for FDI. Other countries such as India have to com-pete for the same investment; China and India have similar comparative advantage’s i.e. low labour costs however an investment on infrastructure could put China at an advantage as firms would rather allocate in a destination with a better infrastructure. If firms decide

1.The International Labor Organisation states, “ African countries are increasingly appreciating the potential of linking infrastructure investments to employment creation and poverty reduction, thereby addressing both deficits in the fight against poverty.” (http://www.ilo.org/wcmsp5/groups/public/---ed_emp/---emp_policy/---invest/documents/meetingdocument/wcms_392965.pdf)

Although many positive effects come with the influx of manufacturing and transportation as well as its influence on the global community, manufacturing and transportation can negatively affect the environment and growing world. As the population on Earth increases, the demand for resources, and

Globalization over the past twenty has become an issue in many countries. This industrialization of second and third world countries by Western Civilization creates many opportunities for the inhabitants. Not only does it expand trading markets, but also promotes productivity and efficiency; thus improving the country and integrating it into the industrial world. This process not only benefits third world counties, but also industrialized nations by allowing them to export goods to the developing world and increase their profit margin.

Which in society is known as generating technological factors. We could use things such as biotechnology and lean manufacturing to create new initiative in creating ways of production. Those new ways of production could be economical regarding gas, oil, and even electricity. This ingenuity would boast the business overall and would reduce energy used for production. Ecological factors can sometimes be correlated with technological factors. Being that resourceful products that are using less power create less pollution and use less of the worlds natural resources. Which allows the organization of our economy to be favored by the new policies and ways of economical production.

Over the years we have seen a major advancement in technology and economic growth. The areas of research and development have a high ROI (return on investment). In many cases, these advancements have a huge effect on our economic and employment growth especially within the United States. However, my economic concerns in terms of technology would be the loss of jobs due to changes in technology. “Technology makes it easier to outsource business activities to other countries with less expensive labor, leading to a loss in domestic jobs” (). Small companies can also be affected by technology in terms of cost. Manufacturing companies are also affected with the development of new robotic equipment. In some instances, new robotics in these companies

The knowledge and understanding of technology is very high in this industry as technological innovation is necessary for the success of the firm in an

Developments in technology are important to this topic and can help improve conditions. Elizabeth incorporated Cohan’s technology idea into the energy crises pointing out that economies are largely based on coal mining as we say in the movie about Ordos, China. New technology can help replace non-sustainable sources of energy like coal mining and lead to new forms of alternative energy. Elizabeth showed a chart of the prediction of 2050 where solar power and wind are the future of energy production for the United States. Her chart implements how new technology is projected to replace the non-sustainable forms of energy extraction. New technologies would also help economy to depend on multiple forms of energy not just one like coal. On the other hand the sources of funding for these technological improvements are hard to come by because of their expense and risk. The money required to develop these technologies comes from individuals that support idea of less harmful production. Time to develop technology improvements can take years to prefect and put into market place. Companies also would not have to use this technology in there production and the types of technological advance are not controlled. The car industry is the model example. Cars have become more efficient over the years due to improve technology and now electric cars are appearing again. However, electric cars are just old technology renew and they still rely on coal. Fuel-efficient cars just improve on a system that is not sustainable. Even thought technology is improving in the last couple years the pollution issue from these products has yet to be answered. The pollution problem from these has yet to be fixed and the world is still face with the same

Green manufacturing is a key player in providing cleaner energy resources, reducing greenhouse gases and other harmful emissions, degrading the impact of these gases, conserving natural resources, and minimizing waste. Not only will it be beneficial to grow the renewable energy and clean technologies industries for environmental purposes, but it will also be beneficial to the global economy, as “It is estimated that green energy can save [Europe] 3 trillion Euros

Information technology has an impact on many different aspects of our life. Technology has influenced the economy and on the way people live, communicate and work. The growth and improvement of technology yields to a greater output and huge impact on the economy. Technology innovation provides more efficient and cheaper ways to make existing goods. Many institutions are spending a lot of their revenue on research and development. This resulted in creating new products and new services. Economy has been affected by technology in the number of the increased jobs, the emergence of new and developed services and the use of the Internet to reach customers.

Most of the developing countries are mired deeply in economical obstacles, which prevent them from development significantly. In order to overcome those embarrassments world’s society struggles to find the efficient solution for poor countries’ economies. Historically, developed countries undertook policy of giving aid to their colonies, afterwards by the end of The Second World War the United States and United Nations embarked the global sponsorship to the developing countries and countries of the Third World due to humanitarian considerations. Since then many other countries have joined in the effort to provide financial aid to lesser developed or poverty ridden countries. But none of those countries that received an aid had experienced a prosperity phase and rapid economic growth.

Africa’s top barrier to achieving its status as a major global trading partner continues to be the lack of quality infrastructure. Despite holding 12% of the world’s population, Africa only accounts for 1% of global GDP and 2% of global trade. According to AFR Barometer, only 65% of Africans have access to electricity, 54% to paved roads, 63% to piped water, 93% to cell phone service and only 30% to proper sewage. Considering that poor road, rail and port infrastructure add around 30-40% to goods traded among African countries, it should be no surprise that African economies have struggled to remain competitive in global markets (ICA). Thus, Chinese investment in infrastructure has been a cornerstone of the “win-win” approach that has

The above fig1.2 indicates that the temperature rose faster from 1975 to now than from 1880 to 1975, and so did CO2. It also indicates that the temperature has been highest recently and so has CO2. A clear relation between Technological development (industrialisation), Carbon emission and Global temperature can be established from the above facts. It is evident that advances in technology have largely been responsible for creating our unsustainable, globalised economy, some of the major technological development in human history has have impacted environment adversely. But as much as technology is making things difficult, it also offers some powerful solutions for sustainability. From the 1970s to 1990s the increase of carbon emissions decreased slightly, in part due to the construction and operation of large nuclear power plants worldwide. At the same time, fossil-fired equipment became more efficient and natural gas-fired combined-cycle power plants with high efficiency levels went into operation. In

Technology has changed the world in the most drastic way. Technology has infiltrated every part of our lives and we are in constant want and need for it. I have always loved the new innovative technology that have come out and I desire to have the newest and the best gadgets. Technology has made life so easy and so instantaneous that I cannot imagine my life without. The short 12 hours of life without technology was a hard one to swallow. There were so many options and they were all hard but the one that I thought would be most beneficial to me was to stop using Facebook. This seemed like the easy way out since I had been using Facebook less than any other social media platform or so I thought but little did I know that I still used it