John Kay - Technology and wealth creation: where we are, where we're going - 0 views
-
Savana R on 13 Feb 14"Every twenty years or so since the Industrial Revolution, a group of new technologies has had a major impact on economic life. Steam power, canals, railroads, telegraph and telephone, electricity, road transport, radio, air transport, pharmacology, television, computers and information technology. Some of these have been general enabling technologies (such as steam power or electricity) which change the way production is organised; some (such as television) create new consumer goods which command a large fraction of household time or expenditure. Enabling technologies transform business life. Consumer technologies transform domestic life." This is talking about how technology can be used for wealth. This also says how every twenty years we get new technology.