Re:Why the Internet is creating more value than jobs
by borism on Friday February 11, 2011 @04:21PM
(#2208183)
hard to say what its impact on the economic system would be
if lifespan of everybody doubled it would have devastating effect on world economy, as one of the most important issues we face today is population aging (and not just in developed world, but in China as well for example).
I generally agree with your definition of my terms and your points. I would note that "Wealth" itself is a poorly defined term even compared other fuzzy economic terms. Micro-level technology is giving many people more range of actions than ever before but it's impact on measured economic wealth has been obscure.
A much larger portion of homeless people have cellphones today than ten years ago. But larger portion of people are homeless today than ten years ago - at least if you believe this is a recession.
If tomorrow, a chemical was released into the atmosphere which doubled the lifespan of everyone on earth, most would agree life would be improved. Yet no one would have a cent more money and it is actually hard to say what its impact on the economic system would be.