Research about the growth of technology in the 20 century • Technology and innovation have rapidly advanced over the last 150 years, improving life around the world. • Innovations like electricity, cars, phones, TVs, and the Internet have spurred societal and economic progress. • Technological advances have increased productivity and economic growth by allowing workers to accomplish more in a day. • A Barclays report focused on new technologies like cryptocurrencies and AI. It analyzed productivity and output over 150 years along with major innovations. • Barclays measured UK and US productivity from 1760. Productivity in 2018 was around 3,000 times higher than in 1760. • A chart shows rapid productivity growth and innovations over time. The pace of progress has accelerated with newer innovations like AI and cryptocurrencies. • Technology adoption has rapidly accelerated over the last century. Many innovations that less than 10% of households had in 1900, like stoves, electricity, phones, and cars, are now ubiquitous, in over 90% of households. • Some argue that new technology has made life so much better for the poor that inequality is less of a concern. But that argument is flawed. New tech like microwaves doesn't eliminate the need to help those in poverty who can't afford necessities. • The argument that technology makes inequality less pressing is shortsighted. New technologies may improve life even for the poor but do not directly provide necessities like food or healthcare. They do not negate the moral need to help those in poverty. • While life today seems better by many measures, poverty and lack of basic necessities remain tragic. New technologies alone do not solve these human problems. Overall, technology does not make inequality a less pressing issue or reduce the need to help those in poverty. Resources : https://finance.yahoo.com/news/chart-shows-every-majortechnological-110421275.html https://www.theatlantic.com/technology/archive/2012/04/the100-year-march-of-technology-in-1-graph/255573/
