2014-23: What does the technology contribute to the economic development

Introduction: This is a short essay for the first week MOOC seminar of Generating the Wealth of Nations(link)

Nowadays I am reading the comic book of the royal archive of Josun Kingdom authored by 김시백. With 20 volumes I could understand the dynamic history for the national politics but I feel sad during that period when the material well being of the ordinary people in daily life does not change. That was a vivid history only for the upper class. With the technology what is helpful for the society overall?

First, the technology is something new.When Steve Jobs introduced iPhone many people is astonished and had no choice but to do try it out. They want to buy it, try it and contribute to the ecosystem making new apps for the app store. Before the app it was the application. He opened the new era of the smart device and world economy has been boosted.

Second, the technology involves mass production. After the agriculture was successful the human being could stay at the same place for a long time and the culture has been started. Mass production makes the average cost of production drastically cut down, so called 'economy of scale' can improve the martial well being overall. Industrial revolution is the important period for the economic development.

Third, the technology is connection. Economy is for social politics so affluent information is needed for the right decision making. Since the internet revolution huge social and personal information is gathered globally and we could use it for many purposes including marketing, research, politics and SNS(Social Network Services) personally. It is both side of the sword but nobody can not exclude it as the social driver of our economic development.

As above the technology had been contributed to the economic development as new idea, mass production and information connected. We should manage it well for the long term human well being.

2014.9.16 @Subway in the morning