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Do you feel information technology will lead to great increases in productivity?
Very Optimistic 2 (33.3%)
Optimistic 2 (33.3%)
Neutral/unsure 1 (16.7%)
Pessimistic 1 (16.7%)
Very Pessimistic 0 (0%)
Total Votes: 6
Will information technology lead to great increases in productivity?
Topic Started: Jan 27 2016, 04:49 PM (40 Views)
♥ Rach ♥
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There has been a large debate about whether or not the information technology wave is pushing us to huge gains economically. The feeling from the optimists is that we are on the cusp of a "third" industrial revolution or at the very least a third big jump in productivity (they look at things like 3D printing). The pessimists however see Information Technology as being unable to provide greater productivity since it has failed to do so for a long while already and they do not see big gains happening. They look at the long decline in increases of productivity since the industrial revolution, viewing it as more of a one time event. Others feel that structurally Western countries in particular are unable to take advantage of the gains in information technology.

How do you feel?
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Sentinel Optik
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Rach
Jan 27 2016, 04:49 PM
The pessimists however see Information Technology as being unable to provide greater productivity since it has failed to do so for a long while already and they do not see big gains happening.
That is ridiculous. Enormous amounts of global wealth have been created as a result of technological advancement in the past 30 years.

If you can do it more efficiently, it makes everyone richer. Consider in Medieval times where 95% of the population had to work as farmers. Now in the United States, 5% are farmers, freeing up others to be doctors, lawyers, skilled labor, et al.

If you only look at it by how many net jobs were created, then it may not appear that IT is doing very much at all, until you realize that IT allows literally all global businesses to be more efficient, letting their employees accomplish more during the day.
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Sentinel Optik
Jan 27 2016, 06:33 PM
Rach
Jan 27 2016, 04:49 PM
The pessimists however see Information Technology as being unable to provide greater productivity since it has failed to do so for a long while already and they do not see big gains happening.
That is ridiculous. Enormous amounts of global wealth have been created as a result of technological advancement in the past 30 years.

If you can do it more efficiently, it makes everyone richer. Consider in Medieval times where 95% of the population had to work as farmers. Now in the United States, 5% are farmers, freeing up others to be doctors, lawyers, skilled labor, et al.

If you only look at it by how many net jobs were created, then it may not appear that IT is doing very much at all, until you realize that IT allows literally all global businesses to be more efficient, letting their employees accomplish more during the day.
You are ignoring the fact that all of these changes are a result of the industrial revolution and that economic growth in recent year has been very low compared to it. It was the industrial revolution which most transformed society in the most profound way. No other event in human history comes even close to matching the industrial revolution in its achievements. So I'm not sure why you're touting these "facts" when they were put into motion by the industrial revolution. Growth now is much more slow than it was during the industrial revolution and continues to slow down.

While growth has been fairly steady since the end of the cold war in the west, it has come nowhere near the the growth rate of the past particularly with a slowing population growth rate. It's not that I don't think IT is preventing the economy from slowing down further, simply that I don't think it will provide the growth of the past.
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♥ All You Need is Love ♥
Her Nordic Majesty

NES ~ I find you so irresistible | Bestias ~ You are a goddess
Salaxalans ~ RACH FOR NS QUEEN | Cpt Carrot ~ Can you get any more awesome? <3| It's always easy to be cheerful around you <3
Calvin Coolidge ~ Rach for NS Queen! \o/
Trinn ~ You're already super sexy and that can't really be outdone
Helle ~ EVERYONE wants to be like you <3 | Guys wanna be with you, and girls wanna be you :3
Praetor ~ Who needs 1500 WA nations when you have Solorni
Ninn ~ hi i just wanted to say that you are a literal goddess
Bran ~ Who doesn't want to be with Rach? She's fun, funny, an absolute delight and she has mountains of love to give to a cruel world. | Every inch of you is perfect <3
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Rach
Jan 27 2016, 07:03 PM
Sentinel Optik
Jan 27 2016, 06:33 PM
Rach
Jan 27 2016, 04:49 PM
The pessimists however see Information Technology as being unable to provide greater productivity since it has failed to do so for a long while already and they do not see big gains happening.
That is ridiculous. Enormous amounts of global wealth have been created as a result of technological advancement in the past 30 years.

If you can do it more efficiently, it makes everyone richer. Consider in Medieval times where 95% of the population had to work as farmers. Now in the United States, 5% are farmers, freeing up others to be doctors, lawyers, skilled labor, et al.

If you only look at it by how many net jobs were created, then it may not appear that IT is doing very much at all, until you realize that IT allows literally all global businesses to be more efficient, letting their employees accomplish more during the day.
You are ignoring the fact that all of these changes are a result of the industrial revolution and that economic growth in recent year has been very low compared to it. It was the industrial revolution which most transformed society in the most profound way. No other event in human history comes even close to matching the industrial revolution in its achievements. So I'm not sure why you're touting these "facts" when they were put into motion by the industrial revolution. Growth now is much more slow than it was during the industrial revolution and continues to slow down.

While growth has been fairly steady since the end of the cold war in the west, it has come nowhere near the the growth rate of the past particularly with a slowing population growth rate. It's not that I don't think IT is preventing the economy from slowing down further, simply that I don't think it will provide the growth of the past.
During the Industrial Revolution people looked up to the rich and aspired to be like them. Now during the IT age society looks upon the rich with fear, envy, suspicion, and disdain. "Excessive profits" (also known as being too good at your job) lead to regulations and government intervention.

Not sure how you can blame the IT industry for not increasing its efficiency quickly enough when businessmen and entrepreneurs are strongly opposed by socialist children who vote en masse to advance their stagnant economic theories.
Gest
 
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♥ Rach ♥
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It's not blaming IT, it's saying that thus far IT comes nowhere near the industrial revolution. Everyone can agree that economic growth with IT has been sluggish and the question then becomes if it will have more of an impact in the future.

Edit: An example of the extraordinary growth caused by the industrial revolution is the fact that for the most part inflation was unheard of prior to industrial revolution.
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♥ All You Need is Love ♥
Her Nordic Majesty

NES ~ I find you so irresistible | Bestias ~ You are a goddess
Salaxalans ~ RACH FOR NS QUEEN | Cpt Carrot ~ Can you get any more awesome? <3| It's always easy to be cheerful around you <3
Calvin Coolidge ~ Rach for NS Queen! \o/
Trinn ~ You're already super sexy and that can't really be outdone
Helle ~ EVERYONE wants to be like you <3 | Guys wanna be with you, and girls wanna be you :3
Praetor ~ Who needs 1500 WA nations when you have Solorni
Ninn ~ hi i just wanted to say that you are a literal goddess
Bran ~ Who doesn't want to be with Rach? She's fun, funny, an absolute delight and she has mountains of love to give to a cruel world. | Every inch of you is perfect <3
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Industrial revolution was great and all, but I think the agricultural revolution was the much more important development in human history. Before that everyone was a hunter/gatherer, but after agriculture people could produce more food than they needed freeing up other people for specialized tasks.
Normally I would be "oh no, the economy", but if it puts tweedle dum out of business, I'm happy -Bran Triune
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