<< Chapter < Page Chapter >> Page >

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
YEAR 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

how can chip be made from sand
Eke Reply
is this allso about nanoscale material
Almas
are nano particles real
Missy Reply
yeah
Joseph
Hello, if I study Physics teacher in bachelor, can I study Nanotechnology in master?
Lale Reply
no can't
Lohitha
where is the latest information on a no technology how can I find it
William
currently
William
where we get a research paper on Nano chemistry....?
Maira Reply
nanopartical of organic/inorganic / physical chemistry , pdf / thesis / review
Ali
what are the products of Nano chemistry?
Maira Reply
There are lots of products of nano chemistry... Like nano coatings.....carbon fiber.. And lots of others..
learn
Even nanotechnology is pretty much all about chemistry... Its the chemistry on quantum or atomic level
learn
Google
da
no nanotechnology is also a part of physics and maths it requires angle formulas and some pressure regarding concepts
Bhagvanji
hey
Giriraj
Preparation and Applications of Nanomaterial for Drug Delivery
Hafiz Reply
revolt
da
Application of nanotechnology in medicine
has a lot of application modern world
Kamaluddeen
yes
narayan
what is variations in raman spectra for nanomaterials
Jyoti Reply
ya I also want to know the raman spectra
Bhagvanji
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.
Damian
yes that's correct
Professor
I think
Professor
Nasa has use it in the 60's, copper as water purification in the moon travel.
Alexandre
nanocopper obvius
Alexandre
what is the stm
Brian Reply
is there industrial application of fullrenes. What is the method to prepare fullrene on large scale.?
Rafiq
industrial application...? mmm I think on the medical side as drug carrier, but you should go deeper on your research, I may be wrong
Damian
How we are making nano material?
LITNING Reply
what is a peer
LITNING Reply
What is meant by 'nano scale'?
LITNING Reply
What is STMs full form?
LITNING
scanning tunneling microscope
Sahil
how nano science is used for hydrophobicity
Santosh
Do u think that Graphene and Fullrene fiber can be used to make Air Plane body structure the lightest and strongest. Rafiq
Rafiq
what is differents between GO and RGO?
Mahi
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
Rafiq
if virus is killing to make ARTIFICIAL DNA OF GRAPHENE FOR KILLED THE VIRUS .THIS IS OUR ASSUMPTION
Anam
analytical skills graphene is prepared to kill any type viruses .
Anam
Any one who tell me about Preparation and application of Nanomaterial for drug Delivery
Hafiz
what is Nano technology ?
Bob Reply
write examples of Nano molecule?
Bob
The nanotechnology is as new science, to scale nanometric
brayan
nanotechnology is the study, desing, synthesis, manipulation and application of materials and functional systems through control of matter at nanoscale
Damian
Got questions? Join the online conversation and get instant answers!
Jobilize.com Reply

Get Jobilize Job Search Mobile App in your pocket Now!

Get it on Google Play Download on the App Store Now




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
Google Play and the Google Play logo are trademarks of Google Inc.

Notification Switch

Would you like to follow the 'Economic development for the 21st century' conversation and receive update notifications?

Ask