The increasing effect of the development of technology on the global economy
The development of technology has two main consequences: new technologies are being developed and highly technological products become cheaper to produce. The development of technology therefore has an increasing effect on the global economy because of efficiency and effectivity gains and of wider use of technology. It is to be expected that the developing economies will benefit the most of the decreasing cost of technology.
- E-commerce in developing countries
- Reduce IT-infrastructure cost
- Competitiveness through innovation in the technology industry
- Cost of Computer Resources
- Low cost of Internet Connections
- Stalling technological development.
- Development of unusable technology.
Technological development is one of the key factors that drive economic growth in macro economic theory.
It will become more and more important in the near future, because our natural resources are running out.
The Global Digital Opportunity Initiative:http://www.opt-init.org/framework/pages/contents.html