β Scribed by Kevin Parker; Michael Mainelli
No coin nor oath required. For personal study only.
Annual global investment in technology is enormous. Research & Development (R&D) alone is 1 to 3% of gross domestic product (GDP) in OECD countries, approximately $250 to $350 billion in the 300 largest multinationals and uncounted billions in small organizations.
Advancement in technology transforms lives and without it improvements in productivity and GDP would be limited to increasing labour and material proficiencyβfinite sources of improvement.
Global GDP per person over the past millennium has risen thirty times and by seven times in the last century alone. This rise has been fuelled by the communication and information age technologies of the last 50 years but, just as importantly, include vaccines, remote sensing, biotechnology, antibiotics, power devices, optics and many others.
Copyright @ 2001 John Wiley & Sons, Ltd.
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