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Technology without doubt has long been a strong determinant of development. More recent technology developed in the last three decades of the past century and the first 15 years of the 21st century has created opportunities for and challenges to economic growth and development that little resemble those of the past thousand years.

Even so, technological change, as well as stagnation in technological change, had important impacts on economies and societies for several millennia.

Major innovations in technology stretch back over 6,000 years, when biotechnology was first used to leaven bread and ferment beer, using yeast (see [link] ).

6,000 years of technological innovation
500 BC The first antibiotic appeared in China when soybean curds were used to treat boils.
First Century A.D. Heronas of Alexandria presented and operated the world’s first steam engine. However, the invention was used only to open and close doors of temples to the Gods, and steam was lost to the world in commercial application until 1800.
1590 Janssen invented the microscope.
1675 Leeuwenhoek discovered bacteria.
1797 The first successful vaccine was used by Jenner to protect humans from smallpox.
19th Century James Watt’s improvements on the Newcomen steam engine allowed steam to become the power source for the industrial revolution.
1865 Fleming discovered penicillin as an antibiotic.
1940s Electronic computers were first used.
1980 The word processor was born.
End 20th Century The announcement of a rough draft of the entire human genome. Malcolm Gillis, The Economic History of Technology . (In progress, 2014).

The technological innovations cited above surely improved human welfare not long after they were put into place. However, it is rarely recognized that technologies that are 500 or even 3,000 years ago are still yielding benefits in the 21st century: as one group of analysts put it in their study of older technologies in over 100 nations, the long eons of technological history still matter today Diego Comin, William Easterly and Was the Wealth of Nations Determined in 1000 B.C? Cambridge, MA: National Bureau of Economic Research, Working Paper #12657. , including and especially for emerging nations.

Examples of long-lived technological impacts include two transport technologies in 1000 B.C: vehicles and pack animals. But technologies developed around 1500 A.D. have had (unsurprisingly) even more contemporary impact. These innovations include ships capable of crossing oceans, magnetic block printing, the use of steel, gunpowder-based weapons and much more”. Ibid. p.10.

In the 21st century, new and startling applications of information technology, nanotechnology and biotechnology promise to vastly improve how we live, how well we live, and how long we live.

We will see that the 21st century technological revolution brings mixed blessings. For example, in the U.S., 70 out of 71 technology -oriented jobs, the median income is greater than that for all occupations. Moreover, in 57 of these occupations, the median income is 50% or greater than the median for all industry. See Gregory Tassey (2014, Winter), “Competing in Advanced Manufacturing: The Need for Improved Growth Models and Policies,” Journal of Economic Perspectives , 28(1): 27-48. As one analyst has put it, “the high- economy must be the high-tech economy. Daniel E. Hecker (2005, July), “High Technology Employment: A NAICS-based update,” Monthly Labor Review , 128: 57-68. At the same time some technological innovations, especially in information and digital technology, threaten to lead to a growing displacement of labor in production processes in the U.S. and around the world. We will see that 21st century technology may bring to humanity the “best of worlds”; some, however have mused that it could bring the “worst of worlds”, such as that depicted in Kurt Vonneguts novel, Player Piano in 1952, six decades ago. In that world, giant computers reign, making all decisions, while displaced humans face a bleak, purposeless future. Vonnegut’s novel was but two years after Alan Turing, the 20th century pioneer of the computational age (Charles Babbage the computational seer of the 19th century). Turing formulated the “Turing Test”, to determine if “machines could think”. He believed that by 2000, there would be such machines.

Questions & Answers

Application of nanotechnology in medicine
what is variations in raman spectra for nanomaterials
Jyoti Reply
I only see partial conversation and what's the question here!
Crow Reply
what about nanotechnology for water purification
RAW Reply
please someone correct me if I'm wrong but I think one can use nanoparticles, specially silver nanoparticles for water treatment.
yes that's correct
I think
what is the stm
Brian Reply
is there industrial application of fullrenes. What is the method to prepare fullrene on large scale.?
industrial application...? mmm I think on the medical side as drug carrier, but you should go deeper on your research, I may be wrong
How we are making nano material?
what is a peer
What is meant by 'nano scale'?
What is STMs full form?
scanning tunneling microscope
how nano science is used for hydrophobicity
Do u think that Graphene and Fullrene fiber can be used to make Air Plane body structure the lightest and strongest. Rafiq
what is differents between GO and RGO?
what is simplest way to understand the applications of nano robots used to detect the cancer affected cell of human body.? How this robot is carried to required site of body cell.? what will be the carrier material and how can be detected that correct delivery of drug is done Rafiq
analytical skills graphene is prepared to kill any type viruses .
what is Nano technology ?
Bob Reply
write examples of Nano molecule?
The nanotechnology is as new science, to scale nanometric
nanotechnology is the study, desing, synthesis, manipulation and application of materials and functional systems through control of matter at nanoscale
Is there any normative that regulates the use of silver nanoparticles?
Damian Reply
what king of growth are you checking .?
What fields keep nano created devices from performing or assimulating ? Magnetic fields ? Are do they assimilate ?
Stoney Reply
why we need to study biomolecules, molecular biology in nanotechnology?
Adin Reply
yes I'm doing my masters in nanotechnology, we are being studying all these domains as well..
what school?
biomolecules are e building blocks of every organics and inorganic materials.
anyone know any internet site where one can find nanotechnology papers?
Damian Reply
sciencedirect big data base
Introduction about quantum dots in nanotechnology
Praveena Reply
what does nano mean?
Anassong Reply
nano basically means 10^(-9). nanometer is a unit to measure length.
how did you get the value of 2000N.What calculations are needed to arrive at it
Smarajit Reply
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Source:  OpenStax, Economic development for the 21st century. OpenStax CNX. Jun 05, 2015 Download for free at http://legacy.cnx.org/content/col11747/1.12
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