Technology and Its Impact On Global Economy

Technology and Its Impact On Global Economy

The following is a work based thing, which means it was part of something at school and since I write best when I am on Blogger, I thought why not write this over here. Enjoy me writing about the impact of technology on the global economy: Positive edition.

We live in the era of the most rapid growth of technology, it is believed that we have made more technological developments in the past 10 years as compared to the amount of development mankind had ever made in the previous centuries. We are growing at such a rate that it seems almost impractical to believe that we can develop further. I mean what is the limit? Flying cars? robot servants? a sustainable model of fuel? at what point can we be able to consider ourselves as living in the ultimate future?

Positive Effects of Technology on the global economy.

Technology has had a very positive impact on the global economy, though we could argue otherwise as well, first let us point out the greatest achievements of man due to the help and involvement of technology.

1.How Technology pretty much developed Globalization: A century ago, globalization, or international influences of businesses around the globe were pretty negligible, don't get me wrong, the people of yesteryear were able to find ways to travel over long distances and trade goods back then, but what growth in technology has done is make it a much more convenient sector, where back then on average it could take a person a month to go from London to Australia, due to the growth in technology it has been condensed into only a single day on a flight. This rapid growth in transportation based technology has resulted in many countries opening up their doors to companies and allowing foreign trade to flourish, leading to a more boosted global economy. 

2.Internet's affluence on small businesses, now people can argue that internet isn't something tangible, hence does it even count as technology, but clearly with the advent of smartphones and laptops, the internet was made much more accessible to people of all walks of life, this gave way for opportunities to learn, grow, and develop their small businesses. This hence can be considered as one of the most brilliant affects that technology has had on us. Giving us tools to build things ourselves therefore boosting and developing the economy in a much more positive manner.

3.The Harbinger of A Proper method of communication: Out of all the conveniences that technology has offered us, the biggest one has to be how advancement in it has led to easier communication around the globe. The growth of the Internet and cellular communication has made life so much easier for not just common people, but also the government, organisations and businesses. It has never been as easier to contact people as it is today. All due to the help of the developments of communication technology

Kudos to you if you were indeed able to read that whole thing all by yourself. I don't have any desire to live.