Saturday, April 4, 2015

Economy - 김익진(Kim Ik Jin)

Topic : How will the technology change our lives in the future?


First, What is technology?

Technology is a means of working to implement the scientific theory to be useful to the nature of things in human life.

Second, If we don't have technology

If we don't have technology, we can't build Civilization or country. and I can't write this sentence with this laptop.

Third, What effect did the technology on the economy

There are formulas that m = KL on the economy. 
m is Money, K is Technology, L is Workforce. 
It means that The money made from the multiplication of labor and technology. 
according to this formula, China can generate a lot of money with little technology, because China has Enormous labor. 
In contrast, Korea needs a huge technology. 
Because labor is less. 
In fact, Korea is considered a significant investment in technology and emphasis on technology. 
But if China has a huge technology with abundant labor?
It will bring huge economic benefits and growth in China.
And it actually happened.
China is the only country in the world that can match the United States based on the tremendous technology and labor.
(Nominal GDP growth in China, copyright WIND.신영증권 리서치센터)

Like this, If we can get more powerful technology, We can have many good effect. We can make huge growth of economy, and make more comfortable and flexible workplace. 

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