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Category: economics

The high tech sector is often the backbone of a healthy economy, and this sector of the economy is growing rapidly in many parts of the world. While growth of the technology sector is likely to continue in the developed world, high tech growth is often especially rapid in the developing world. Here are some countries where high tech sector growth is taking place at a particularly rapid pace:

China: China is experiencing rapid economic growth in general, and this includes the country’s high tech sector. While the high tech sector of China has been growing for some time, it may grow at an even faster rate in the future. China’s economy is thought to be making a transition from an industrial to a post industrial nation. This transition often leads to growth in the high tech sector.

Since people in China are spending more on merchandise in general, more people in China are purchasing high tech gadgets. You can see this trend from the increase in internet usage that has been happening throughout China. It is estimated that there is a new internet user in China every 1.6 seconds. Currently, nearly 600 million people in China already use the internet. This is nearly double the population of the United States, and this figure is expected to continue rising rapidly!

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Tesla and SpaceX founder Elon Musk told CNBC on Friday that economies would most likely need a form of ‘universal basic income’ as more and more industries become automated.
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Elon musk: moving toward universal basic income due to automation | CNBC

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2017 is already shaping up to be a big year for the concept of Universal Basic Income (UBI). The idea to build an unconditional income floor to cover the basic needs of each citizen has been gaining worldwide attention and traction. In just the first 10 days of 2017, Finland has already launched a trial, a nonprofit in India is preparing to launch their own, Scotland is seriously considering trials, and several South Korean presidential candidates are now calling for support for UBI.

But before we turn our focus to the latest happenings, I want to look back and highlight some of the best videos of 2016 that explained and advocated for Universal Basic Income.

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Last year, Oxfam said the world’s 62 richest billionaires were as wealthy as half the world’s population. However, the number has dropped to eight in 2017 because new information shows that poverty in China and India is worse than previously thought, making the bottom 50% even worse off and widening the gap between rich and poor.

The world’s eight richest billionaires control the same wealth between them as the poorest half of the globe’s population, according to a charity warning of an ever-increasing and dangerous concentration of wealth.

In a report published to coincide with the start of the week-long World Economic Forum in Davos, Switzerland, Oxfam said it was “beyond grotesque” that a handful of rich men headed by the Microsoft founder Bill Gates are worth $426bn (£350bn), equivalent to the wealth of 3.6 billion people.

The development charity called for a new economic model to reverse an inequality trend that it said helped to explain Brexit and Donald Trump’s victory in the US presidential election.

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“Jia Jia” can hold a simple conversation and make specific facial expressions when asked, and her creator believes the eerily life-like robot heralds a future of cyborg labour in China.

Billed as China’s first human-like robot, Jia Jia was first trotted out last year by a team of engineers at the University of Science and Technology of China.

Team leader Chen Xiaoping sounded like a proud father as he and his prototype appeared Monday at an economic conference organised by banking giant UBS in Shanghai’s futuristic financial centre.

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Once again the figures show that young to old disparity in the population is the problem not overpopulation. We really need to develop rejvenation biotechnology with all haste.

Once again overpopulation isnt the problem it is the disparity between young and old in the workforce. This makes rejuvenation biotechnology a suitable solution to avoid economic collapse.

“The world is experiencing unparalleled population aging. This poses problems for productivity and growth, unless we do something about it”

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Grassroots funding of fundamental science and private enterprize will lead the way in rejuvenation biotechnology not the traditional funding sources from Government which are shrinking every year.

It is important to understand that innovation and progress is unlikely to come from the Government and the traditional grant system which is shrinking every year. Rejuvenation biotechnology will likely be funded with a mix of fundraising for fundamental breakthrough technologies followed by private enterprize taking discoveries to market. This is why supporting science is critcial as relying on the Government to innovate and drive progress is unlikely to yield results anytime soon.

“Today, researchers compete for government grants at increasingly shorter intervals and with diminishing chances of success: Less than 1 in 5 grant applications succeeds. This inhibits risk taking.

By contrast, private investment in medicine has kept pace with the aging population and is the principal engine for advancement. More than 80% of new drug approvals originate from work solely performed in private companies. Note that such drug approvals come on average 16 years after the beginning of clinical trials, which typically cost $2.5 billion from start to finish. Even if grant-subsidized academics wanted to create a new drug, economic reality prevents it.”

#aging #crowdfundthecure

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If a trip to Venice is your ideal holiday, then you’re going to love the future.

new-york-2140-2

Most of us, however, will be quite sobered by Kim Stanley Robinson’s upcoming novel, New York 2140, a near-future projection of a world reshaped by climate change. Sea level has risen by 50 feet, flooding the Big Apple and countless coastal cities around the planet. Thousands of species have gone extinct.

The same economic and political forces driving the world ever closer to that reality are still in charge, setting life on a perpetual spin cycle of boom and bust, with the rich always getting richer.

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