J. Wilhelm
╬ Admiral und Luftschiffengel ╬
Board Moderator
Immortal

 United States
Sentisne fortunatum punkus? Veni. Diem meum comple
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« Reply #2 on: March 29, 2016, 10:31:31 am » |
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Hate to break it to you, bit all you need to do is read the news. It doesn't look like the 21st. C will be any more gentle....
My two cents:
The notion that wealth is fueled by technological progress is not new. But I doubt that technological developments and thus progress will be slower in the 21st. C. Most likely instead, it will occur outside of the developed world.
On a national level it is considered standard doctrine that producer nations, prior to transforming into consumer nations, experience an exorbitant rate of growth which generates a sudden upward mobility in their population. The growth is generally tied to the rise of an industry, and at least indirectly that dominant industry is directly related to scientific progress. Once that transition to a consumer nation happens, the exorbitant economic growth slows down.
The result of this growth in the first quarter of the 21st. C is the unprecedented emergence of the largest urban centers ever known on Earth, mostly in China, and a skyrocketing emergence of middle and high class bourgeois Chinese families. So shockingly fast is their upward mobility, that the Chinese government has established "schools" for young affluent Chinese, teaching them how to responsibly manage their considerable monetary assets.
As of the year 2016, China seems to be on the verge of ending their growth period, which in relative terms was incredibly short ("the candle that burns twice as bright, burns twice as fast" or something along those lines...).
In the developing world the growth of middle class is afoot again, mostly in the Southern Hemisphere and Latin America, and some regions like India are very well into their growth period, particularly fuelled by the development of IT and other industrial advancements.
Physical size matters in the developing world. Larger developing countries fare better, perhaps because they need a greater technical investment to feed a larger population (grater investment in infrastructure) and also because they have more natural resources. The latter two factors led to faster industrial growth for the larger countries. Good examples of this are India and Brazil.
For many developing nations, their growth period is just beginning. It may be have been delayed throughout the 20th. C, but at some point these countries reach "critical mass" and begin an economic "chain reaction" of sorts, fuelling in turn native technological progress - India again is a good example with their efforts on a space programme that includes probes to Mars and designs for a new Space Shuttle. A number of countries will reach critical mass in the 21st. C.
In the case of India technological advancement started with manufacture, and IT came in relatively late, while in other countries, the catalyst was less concentrated on heavy industry, as the rate of industrial development was relatively slow in the 20th. C, and instead high tech and IT take over the primary role of catalyst toward a formation of "critical mass."
For example, while Mexico's industrial growth was relatively mild in the 20th. C, it was a bit stronger for Brazil. Brazil's overall economy size lead Mexico by several decades. On the other hand the development of some of the largest wealth concentrations, e.g. Mexican magnate Carlos Slim, can be directly related to the introduction of new information and communication technologies (literally the re-wiring of an entire nation, in Slim's particular case)... so Mexico's critical mass may be reached sometime in the next 2-3 decades by means other than traditional heavy industry.
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