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Effect of technology on the economy
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The ultimate engine of economic growth is new technology. According to economists, the growth of output per capita is a fairly recent phenomenon. This can be attributed to all the new technology people have discovered in the past few centuries, causing output growth to surge and accelerate faster than ever before in history. The result of all these ingenious, innovative inventions has been a total revolution in the way people live their lives.
After examining the multitude of invention descriptions on the four websites and considering from other sources, I have concluded that the telephone, printing press, automobile, airplane and the computer have contributed most to economic growth.
First and foremost, the invention of the telephone is ranked number one among my five choices. From my own judgment, this would seem to contribute the most to economic growth. Until the invention of this magnificent device, messengers often had to be sent long distances to deliver information. Intercontinental and overseas communication would take months or even years. From an economic standpoint, companies could relay information between themselves and others instantaneously and make decisions and react to internal and external factors extremely quickly. Essentially, it accelerated the world economy.
Now, the second among my choices was the printing press invented during the Renaissance period by Johannes Gutenberg. This item revolutionized printing, “making it simple and more affordable” (http://www.enchantedlearning.com/inventors/indexp.shtml). This would enable information to become widely available among the populace. Although it may not have occurred right away, this would increase the education among a society and harvest more educated people with more potential.
Number three on the list is the automobile. This invention would enable people to traverse large distances in dramatically less time than ever before. Companies could deliver goods and services much quicker, people had much more control of where to go then previously with the steam engine. Also with the invention of the automobile, the horse and carriage and other modes of primitive transportation have become obsolete. This new technology ultimately would accelerate the speed of the economy and increase economic growth.
The invention of the airplane by the Wright brothers changed the world, so number four would be the airplane. Again, like the automobile, people would be able to travel great distances in so much less time, and eventually intercontinental travel would be possible. The invention of this enables companies expand across the globe and people to travel with more ease.
The printing press was, arguably, the most impactful invention in history. Created by Johannes Gutenberg, the printing press are sets of metal letters set in a frame that could be inked, papered and pressed. The printing press affected the fast and wide spread of new ideas changing everyday life. The Protestant Reformation was a movement that changed people’s mind about Catholic belief and created new sects of Christianity. The Exploration Era led to many discoveries of the Americas and opened up the curiosity of many. Both of these historical events were important consequences of the printing press. The Exploration Era was the more important consequence of the printing press than the Protestant Reformation.
Johnson, Peter. "Like the Sniper, Story Seems Unstoppable." USATODAY.com. N.p., 23 Oct. 2002. Web. 29 May 2013. .
As a socialistic society we live in we find ourselves in positions were conflicts arise between friends or family. 'The Sniper'; was written by Liam O ' Flaherty to express a subtle yet powerful opinion on such a conflict. With references this essay will analyse the short story bringing to light the structure used to contribute to the theme.
Many new industries were developed to support mass production of goods, such as, roads, tires, and all the items it took to build a vehicle for the automobiles.(David Shannon, 217) The chemical industry grew in the United States after First World War because America couldn't get the chemical anymore they had gotten from Germany. (Shannon, 219) Americans wanted the access to electric power which included: lights, radios, and washing machines. There was a mass movement of people from the country to the city looking for jobs. The rural life couldn't support a family like urban living could, people left the farming industry and moved to the manufacturing industries which damage the ability for agricultural to survive.(Shannon, 219) The effects of prosperity revolved around the automobile specifically younger people's ability to escape adult supervision.
Bullets, of course, are another big danger in war. The author shows with bullets how close you are to death in a war. In the event where the sniper lights his cigarette, he is twice almost killed with the “enemy” sniper’s bullets! The sniper’s own bullets are quite dangerous, too, as seen when he easily kills the tank commander and citizen woman informer. After shooting them, the “enemy” sniper sees him, and “His fore...
“The Sniper” is a short story written by Liam O’Flaherty that was released on January 12, 1923 in an issue of a weekly socialist publication, called The New Leader. It’s a very easy read with a surprise twist at the end that I felt complimented what the author was trying to convey about civil wars. I enjoyed reading this story because of its militaristic and subtle political theme. It shows what humans are when conflict stirs. A huge downside to civil war is brought to the surface with this story’s surprise ending. I would recommend reading this because I believe it really shows the true nature behind wars and the effect it can have upon humans involved in wars. Being threatened for your life, a human can overcome unsurmountable feats with critical thinking and wit, but it’s not without its downfalls as this story shows.
...l Morse?s 1832 invention. It is quite possible that more social changes were triggered by the telegraph, than from any other invention. Before the telegraph, communications were delivered by boat, train, horseback, or hand. Now, news and messages could be received immediately.
As the late 19th century progressed, technological ideas and inventions began to thrive. The notion that technology would impact life as we know it was an unbelievable idea to comprehend. People had no idea that something so simple such as the light bulb would become so vital to them and for century’s to come. Inventions such as, the typewriter, barbed wire, telephone, Kodak camera, and electric stove were created, however the major inventions created and use tremendously today are, Medicine, Electricity, and Transportation.
Technological innovations were at its peak during the Gilded Age. Great minds such as Andrew Carnegie, Thomas Edison, and Nikola Tesla developed these technological advances. These innovations would nevertheless have a great impact in our country and would change the way we live. Processes such as the Bessemer Process, the creation of the light bulb, and safe electricity would be the technological innovations that would carry us into the 20th century, and put us as a country ahead of everybody else.
In this year Henry Ford created the first affordable, combustion engine car called the Model-T. The creation of the Model-T changed the lives of every American. Vehicles were looked at as a way of freedom and excitement. Soon after, every household in America had a car. The demand for vehicles sparked a whole new industry, creating jobs, more revenues and improving the American economy in every way. With so many vehicles on the roads, roads needed to become bigger and better which spawned a nation wide road construction. This also created more jobs and strengthened the economy even further. (Inventions: Car)
Economic growth focuses on encouraging firms to invest or encouraging people to save, which in turn creates funds for firms to invest. It runs hand-in-hand with the goal of high employment because in order for firms to be comfortable investing in assets such as plants and equipment, unemployment must be low. Hereby, the people and resources will be available to spur economic growth.
“The Industrial Revolution was another of those extraordinary jumps forward in the story of civilization”. This quote by Stephen Gardiner pretty much summarizes a long, laborious period of time into a single 15-word quote. Urbanization, industrialization, and contamination, all formed part of this significant period of time in European history. Nevertheless, one aspect that better symbolized the Industrial Revolution was the sudden surge of new inventions and machinery that begun during the Industrial Revolution. Among the numerous inventions that appeared during the Industrial Revolution, the spinning jenny, the steam locomotive, and the steam engine were three of the most remarkable. The spinning jenny, steam locomotive, and steam engine were inventions that greatly enhanced all types of industries in the Industrial Revolution.
People needed faster and more reliable means of transporting the large number of products being produced from factories. Wooden sail boats became steam powered boiler ships made out of iron and steel that more effectively and reliably moved goods from one place to another while steam powered trains took the place of horses, carts, and wagons and made land travel swift and safe. Practical steam engines and new ways of travel had abrupt effects on employment, resulting in even more factories and mills, and centering even more on cities (“Industrial Revolution,” History.com). Communication improved as well, not just by people being able to travel from one place to the next more quickly. Telegraphs and eventually the telephone and radio resulted in handwritten letters no longer having to survive week long trips, but instead being relayed halfway around the globe in just minutes (Deane 72-74).
In order for any country to survive in comparison to another developed country they must be able to grow and sustain a healthy and flourishing economy. This paper is designed to give a detailed insight of economic growth and the sectors that influence economic growth. Economic growth in a country is essential to the reduction of poverty, without such reduction; poverty would continue to increase therefore economic growth is inevitable. Through economic growth, it is also an aid in the reduction of the unemployment rate and it also helps to reduce the budget deficit of the government. Economic growth can also encourage better living standards for all it is citizens because with economic growth there are improvements in the public sectors, educational and healthcare facilities. Through economic growth social spending can also be increased without an increase of taxes.
Economic growth is one of the most important fields in economics. In current generation economic is developing well. Economic growth is really important to country and for the world as well. Economic are one of the identity for country because it shows a country development and attraction for other countries (F, Peter. 2014). For example well economic develop such as Singapore, Dubai, New York, and Japan. These countries are well develop and maintaining their economic growths. Economic growths are really important because higher average incomes enables consumers to enjoy more goods and services. Then, lower unemployment with higher output and positive economic growth firms tend to utilize more workers creating more employment. Enhanced public