Parallel second economy!
Again am stressing the point Man is known for creative destructive nature. We are creating the digitalised world with social media, mobile, cloud, analytics (SMAC) technology that is predicted to be equal to the physical economy by 2025, referring to Brian Arthur's article 'The Second economy'.
No wonder this second economy will create a progressive path for few with lesser jobs for the majority, the bigger impact is the divide. Arthur in his article talks about producing wealth with uneven wealth distribution. If this is bound to be true, the world is staged for the next war - Rich vs Poor.
If I imagine the digital economy to prosper in the next decade to its full potential, the economic impacts would be a greater divide between the rich and poor. The most unfortunate thing about this being the economic progress without jobs. I am sure, many countries including India have already started see this kind of progress. A day is not far when we start relying on gadgets (or robots) more than humans. Isn't this the creative destructive nature at its best?
To me, unless the wealth creators find a way to redistribute their wealth to the other section, there is no way the economy will progress. Imagine 1-2% of the world's population are super rich who own the digital economy, whom would they sell their products to? The other population unless they have the purchasing power to buy the digital stuffs there would be no progress. Yes there is a possibility of a recession in the making.
Well to summarize, we as humans are such a primitive organism in my view that it takes our destructive trend to learn what we are doing wrong. Learning we do, only after we realize we can't turn back. Hope we learn faster this time.
I hope for a greener environment rather than a materialistic digital world.
Hope, I can.
No wonder this second economy will create a progressive path for few with lesser jobs for the majority, the bigger impact is the divide. Arthur in his article talks about producing wealth with uneven wealth distribution. If this is bound to be true, the world is staged for the next war - Rich vs Poor.
If I imagine the digital economy to prosper in the next decade to its full potential, the economic impacts would be a greater divide between the rich and poor. The most unfortunate thing about this being the economic progress without jobs. I am sure, many countries including India have already started see this kind of progress. A day is not far when we start relying on gadgets (or robots) more than humans. Isn't this the creative destructive nature at its best?
To me, unless the wealth creators find a way to redistribute their wealth to the other section, there is no way the economy will progress. Imagine 1-2% of the world's population are super rich who own the digital economy, whom would they sell their products to? The other population unless they have the purchasing power to buy the digital stuffs there would be no progress. Yes there is a possibility of a recession in the making.
Well to summarize, we as humans are such a primitive organism in my view that it takes our destructive trend to learn what we are doing wrong. Learning we do, only after we realize we can't turn back. Hope we learn faster this time.
I hope for a greener environment rather than a materialistic digital world.
Hope, I can.
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