Economics and Technology
The correlation between economics and technology has a strong historical basis. Even before the industrial Revolution there was a relationship between the technological sophistication of a society and its economic strength. It was the coming of the Industrial Revolution though, that took this relationship to new heights. The revolution, which … Keep Reading → started in the United Kingdom in the 18th century and spread to the rest of the world, enabled goods to be produced faster and more easily. It also enabled them to be transferred all over the world. The standard of living for the average person increased dramatically. The wealth of many nations reached unprecedented heights. Since then, the relationship between technological sophistication and economic wealth is undeniable. The computer innovations of the 20th century are another example of technology that dramatically changed the economic landscape. There will, no doubt, be new technology that creates wealth for those that embrace it.
