Quotes About Technology

The one market that seemed to be guaranteed for oil for a very long time was transportation and, specifically, the automobile. No longer, not on the "Roadmap" to the future. For oil now faces a sudden challenge from the New Triad: the electric car, which uses no oil; "mobility as a service," ride-hailing and ride-sharing; and cars that drive themselves. The result could be a contest for dominance in a new trillion-dollar industry: "Auto-Tech.

Advanced manufacturing, including 3D printing, could have a major impact on energy use by reducing transportation costs. New technologies for buildings could make them much more energy efficient.

For many decades after the 1917 Bolshevik Revolution, the Soviet Union had been closed off, an almost forbidden place, another world. The Soviet oil industry operated largely in isolation, with little of the flow of technology and equipment that was common in the rest of the world.

Also targeted was shale oil and Russia's immense nonconventional resources, including the huge Bazhenov formation, under the West Siberian basin. Whatever the potential, for a long time there was no technology with which to successfully produce from that complex geology.

Most of the other visitors were chained to their audio guides, looking only at what their little headsets told them was worth seeing.

I hate how it's so much easier to be open and straightforward to a computer screen than to an actual person.

The fear of creative destruction is the main reason why there was no sustained increase in living standards between the Neolithic and Industrial revolutions.

This process of innovation is made possible by economic institutions that encourage private property, uphold contracts, create a level playing field, and encourage and allow the entry of new businesses that can bring new technologies to life. It should therefore be no surprise that it was U.S. society, not Mexico or Peru, that produced Thomas Edison, and that it was South Korea, not North Korea, that today produces technologically innovative companies such as Samsung and Hyundai.

Technological innovation makes human societies prosperous, but also involves the replacement of the old with the new, and the destruction of the economic privileges and political power of certain people.

Economic growth and technological change are accompanied by what the great economist Joseph Schumpeter called creative destruction.

There could be some economic growth without innovation, relying on existing technology, but it was growth without creative destruction. And it did not last.

Technological change is only one of the engines of prosperity, but it is perhaps the most critical one.

Inclusive economic institutions led to the development of inclusive markets, inducing a more efficient allocation of resources, greater encouragement to acquire education and skills, and further innovations in technology.

The English textile industry not only was the driving force behind the Industrial Revolution but also revolutionized the world economy.

English exports, led by cotton textiles, doubled between 1780 and 1800. It was the growth in this sector that pulled ahead the whole economy. The combination of technological and organizational innovation provides the model for economic progress that transformed the economies of the world that became rich.

El temor a la destrucción creativa es la razón principal por la que no hubo un aumento sostenido del nivel de vida entre la revolución neolítica y la revolución industrial

La desigualdad mundial existe actualmente porque, durante los siglos XIX y XX, algunos países fueron capaces de aprovechar la revolución industrial y las tecnologías y los métodos de organización que aportaba mientras que otros no.

También mostraremos que la desigualdad del mundo no se puede explicar por las diferencias en la productividad agrícola. La gran desigualdad del mundo moderno que apareció en el siglo XIX fue debida a la desigual distribución de las tecnologías industriales y la producción manufacturera, no a la divergencia en los resultados agrícolas.

In fact, it is known that a major technological innovation, the introduction of the steel axe among the group of Australian Aboriginal peoples known as Yir Yoront, led not to more intense production but to more sleeping, because it allowed subsistence requirements to be met more easily, with little incentive to work for more.

In fact, a thousand years of history and contemporary evidence make one thing abundantly clear: there is nothing automatic about new technologies bringing widespread prosperity. Whether they do or not is an economic, social, and political choice.

Inclusive economic institutions also pave the way for two other engines of prosperity: technology and education. Sustained economic growth is almost always accompanied by technological improvements that enable people (labor), land, and existing capital (buildings, existing machines, and so on) to become more productive.

in which the Soviets did manage to sustain some innovation was through enormous efforts in military and aerospace technology. As a result they managed to put the first dog, Leika, and the first man, Yuri Gagarin, in space. They also left the world the AK-47 as one of their legacies.

Markets can be dominated by a few firms, charging exorbitant prices and blocking the entry of more efficient rivals and new technologies. Markets, left to their own devices, can cease to be inclusive, becoming increasingly dominated by the economically and politically powerful. Inclusive economic institutions require not just markets, but inclusive markets that create a level playing field and economic opportunities for the majority of the people.

Las instituciones económicas inclusivas también allanan el camino para otros dos motores de prosperidad: la tecnología y la educación.