Unleashing technological potential and accelerating bet365 apuestas recovery
January 29, 2021 07:59 Source: "China bet365 apuestas Journal" Issue 2101, January 29, 2021 Author: Our reporter Wang Youran

June 2020,Said Klaus Schwab, Founder and Executive Chairman of the World Economic Forum,A severe economic recession has begun,The world may be facing the most serious economic crisis since the 1930s。To prevent this possibility from becoming a reality,We need a “world renaissance” or “the Great Reset”,One of its elements is to use the fourth industrial revolution to benefit social and public interests。Today,Facing the COVID-19 pandemic,The global anti-epidemic situation is still not optimistic,The world economy still faces huge challenges。Some scholars proposed,Emerging technologies have not had the expected huge boost to economic bet365 apuestas,Revitalizing the global economy in the post-epidemic era needs to be supported by “real science”。

  Productivity bet365 apuestas lags behind technological innovation

When the 21st century enters the first decade,American entrepreneur Peter Thiel once lamented,“We want a car that can fly,got 140 characters”。The “140 characters” here refers to the maximum number of words posted on the American social platform “Twitter” at that time。Thiel’s comments vividly reveal a phenomenon: the achievements of technological innovation are more used for social entertainment,Rather than actually improving bet365 apuestas,Carry out groundbreaking exploration。

Since the 1970s and 1980s,The world enters the "information age",Knowledge generation、Propagation、Significantly improved speed and breadth of applications,Technological progress is changing with each passing day。However, there is plenty of evidence,Labor productivity has not increased significantly。According to the research of scholars such as Ian Goldin, a professor at Oxford University in the United Kingdom,Comparing the two periods 1995-2005 and 2005-2018,United States、UK、Japan、Germany、France’s labor productivity bet365 apuestas fell by 1.5%、1.82%、1.17%、0.86%、1.05%。Reduced productivity bet365 apuestas caused the per capita GDP of these five countries to decrease by US,127 each in 2018、USD 11,936、USD 7225、92 and 41。According to another report by the US "Wall Street Times",From 1995 to 2005, the average annual output of American workers increased by 2.9%,The bet365 apuestas rate dropped to 1 from 2005 to 2015.3%。

Robert J, Professor of Economics at Northwestern University. Gordon (Robert J. Gordon) proposed in his book "The Rise and Fall of American bet365 apuestas",1870-1970,The economic changes and technological innovations that have unprecedentedly improved Americans’ living standards cannot be replicated,U.S. productivity bet365 apuestas will be skewed by inequality、Aging population、Further obstacles due to rising federal government debt and other factors。Present,The pace of innovation seems to be accelerating,Economic bet365 apuestas is slowing。1920-1970,The real GDP bet365 apuestas rate of the United States is 3.7%,Productivity bet365 apuestas rate is 2.8%。2006-2016,The real GDP bet365 apuestas rate of the United States is 1.4%,Productivity bet365 apuestas rate is 1%。However,In these 10 years,The number of newly issued patents in the United States increased by 27.9%,More than 24 in the past (1996-2006).2%。Tyler Cowen, professor of economics at George Mason University in the United States, talked about it in his book "The Great Stagnation", Since the 17th century,The U.S. economy enjoys “low-hanging fruit”—free land、Immigrant labor force、Powerful new technology。Over the past 40 years,These fruits are beginning to disappear,But people have not yet realized that the technical plateau has arrived,There are fewer “fruit trees” than people expect。

The potential of new bet365 apuestas has not been fully unleashed

said Wim Naudé, professor of economics at University College Cork, Ireland,Both the first and second industrial revolutions were characterized by substantial increases in labor productivity and wages,Since the 1970s,Productivity bet365 apuestas is stagnant and “decoupled” from wage bet365 apuestas in many advanced economies,Some key technologies of the fourth industrial revolution (artificial intelligence、Internet of Things、3D printing) has not yet reached its full potential。The commercialization of 3D printing technology in the 1980s and 1990s failed to trigger a global revolution in localized small-scale niche manufacturing,Its application has so far been basically limited to making molds and models;There are also scholars saying,The popularity of 3D printing technology was predicted but not realized。

The potential of the Internet of Things has not yet been clearly demonstrated。William Webb, former president of the British Institution of Engineering and bet365 apuestas, talked about it in his new book "The Myth of the Internet of Things",Currently,A unified standard for connecting dispersed IoT devices does not yet exist,There is also no bet365 apuestas that can bring the entire IoT ecosystem together in one place。

In Nord’s opinion,One reason why the actual performance of emerging technologies is not as good as expected is the increase in market concentration。Front-edge companies that master new technologies use this advantage to consolidate their dominant position,Hindering the spread of new technologies。According to James E., executive director of the bet365 apuestas and Policy Studies Program at Boston University School of Law. James E. Bessen) and other scholars’ research,Since 2000,Top companies in developed countries such as the United States are interested in intangible assets,In particular, investment in software has increased sharply,Reduce the possibility of “leapfrogging” for “second tier” companies,Market competition weakens。Nord thinks,The fixed cost of software bet365 apuestas is high,Low marginal cost,Make large companies more likely to develop high-quality products than their smaller competitors。In the face of high barriers and low profits,Many smaller businesses choose not to adopt the latest bet365 apuestas,Hindering the spread of new technologies,The gap between bet365 apuestas leading companies and bet365 apuestas lagging companies is widening,The energy of technological progress is not enough to drive the overall productivity level up。In addition,Benefits from emerging digital technologies often diminish over time,Especially when the “low-hanging fruit” has been picked,Only the higher position remains、When opportunities are harder to grasp,Even more so。

Nord suggestion,Increase investment in scientific research that can produce general-purpose technologies。Digital bet365 apuestas is one of the fastest growing bet365 apuestas fields currently,But most of the investment in this area comes from venture capital institutions looking for quick returns,Projects that promise breakthrough results but require longer development times often do not receive investment。This tendency may result in some key industries and technologies lacking the necessary funds to advance and innovate。Data from PricewaterhouseCoopers, UK,2003-2017,Venture investment in the medical equipment industry decreased by more than 50%,Semiconductor、Venture investment in the optical fiber communications and mobile communications industries has decreased even more。The world is currently facing severe climate and environmental challenges。However, a report from the Brookings Institution in the United States shows,U.S. cleantech venture capital investment has plummeted since 2011,And investment is only concentrated in 4 metropolitan areas。

Mikko Packalen, associate professor of economics at the University of Waterloo in Canada, told this reporter,In recent decades,Not only developed countries have weak economic bet365 apuestas,Many developing countries that have experienced rapid bet365 apuestas have also shown a trend of slowing down in GDP bet365 apuestas。Why new scientific ideas and new technologies no longer drive economic bet365 apuestas as powerfully as they used to?Most economists believe,Part of the reason is that people are finding new ideas more slowly。There is evidence,The cost of scientific achievement today is much higher than ever before。Even in areas where development momentum is still rapid,Scientific research productivity is also declining。Sabine Hossenfelder, a physics researcher at the Institute for Advanced Study in Frankfurt, Germany, lamented that “there is no movement in the field of basic physics”,Not even suitable to be described as "crisis",Because this word indicates that scientists are aware of flaws in their research methods,Changes are happening,However, they did not see self-reflection and awakening。Theoretical physicists are just continuing what they have been doing for 40 years,The duration of this period of stagnant progress is unprecedented。

Nord also thinks,Higher education institutions are the “center” of scientific research,However, in recent years,Scientific research activities in universities are subject to inappropriate incentive mechanisms and dogmatization、The drag of formal administrative management system。Nord calls on the scientific community to launch a "back to basics" movement,By carrying out practical activities、Adventurous scientific research,Promote bet365 apuestas recovery,Promote the fourth industrial revolution to truly “take off”。

Editor: Chang Chang
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