On Economic Trends I'm Watching
Nov. 25th, 2016 03:27 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
danieldwilliamHere are some economic trends I think are important.
Globalisation -
a) ability of goods and services, capital and people to move anywhere in the world
b) technology transfers from rich countries to poor countries that allow firms in poor countries to mass produce products for sale to rich countries or each other
Automation
the ability of machines to perform tasks with out human control or physical effort - ranging from simple automated production processes through to more complex processes requiring manipulation and processing of data during the production process in order to produce a final good or service
Betterment
The ability of an automated process to have access to the best control systems, the best information, the best expert system or the best design of outputs through the use of non-rivalous software.
Western Productivity
The slow and slowing growth in how much valuable work people can do in rich parts of the world.
Aging
The average age is increasing almost everywhere. In poor countries this is largely because children are living in to adulthood more often. In rich countries it is because adults are becoming old more ofren. Everywhere the demographic pyramid is becoming more of column with equal numbers of people in each age band.
Enrichment
The poor are becoming less poor. Global Income Inequality is falling. Many poor countries are getting richer and many, many poor people in poor countries are getting richer. By 2030 there will probably be as many people in China who earn more than the average European wage than there are people in Europe.
Energy Prices
A world with abundent, cheap, clean energy is a very different world to one with shortages of energy and energy that is expensive or polluting. Personally I think we're about to enter a long period of steady reductions in energy prices and steady improvements in the amount of energy available and the cleanliness of that energy but I could be wrong.
Climate Change
We're already released so much carbon dioxide in to the atmospher that we are already going to have significant climate change. Change presents opportunities and challenges but I think globally rather more challenges than opportunities come from climate change.
Globalisation -
a) ability of goods and services, capital and people to move anywhere in the world
b) technology transfers from rich countries to poor countries that allow firms in poor countries to mass produce products for sale to rich countries or each other
Automation
the ability of machines to perform tasks with out human control or physical effort - ranging from simple automated production processes through to more complex processes requiring manipulation and processing of data during the production process in order to produce a final good or service
Betterment
The ability of an automated process to have access to the best control systems, the best information, the best expert system or the best design of outputs through the use of non-rivalous software.
Western Productivity
The slow and slowing growth in how much valuable work people can do in rich parts of the world.
Aging
The average age is increasing almost everywhere. In poor countries this is largely because children are living in to adulthood more often. In rich countries it is because adults are becoming old more ofren. Everywhere the demographic pyramid is becoming more of column with equal numbers of people in each age band.
Enrichment
The poor are becoming less poor. Global Income Inequality is falling. Many poor countries are getting richer and many, many poor people in poor countries are getting richer. By 2030 there will probably be as many people in China who earn more than the average European wage than there are people in Europe.
Energy Prices
A world with abundent, cheap, clean energy is a very different world to one with shortages of energy and energy that is expensive or polluting. Personally I think we're about to enter a long period of steady reductions in energy prices and steady improvements in the amount of energy available and the cleanliness of that energy but I could be wrong.
Climate Change
We're already released so much carbon dioxide in to the atmospher that we are already going to have significant climate change. Change presents opportunities and challenges but I think globally rather more challenges than opportunities come from climate change.
