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Impact of productivity improvement

There is a difference between “owning” and “consuming“. You can own 100 cell phone but you can use only one at a time. Same goes with most things in life.

Owning is proportional to the amount of money you have.

Consuming is proportional to the time you have.

Digital assets are easy to own but more difficult to consume. In the long run demand of will be limited by how much time we have – which anyway is limited.

Economic growth is directly proportional to demand. If demand cannot grow beyond a point, we will come to a stage when economy will not be able to grow.

If the overall demand does not grow and productivity keeps increasing – you will need less and less people to fulfill that demand.

So:

Finite Time -> Stagnant Consumption ->No growth in Demand

Increase in Productivity -> Less People required to product Goods and Services

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More Stories By Udayan Banerjee

Udayan Banerjee is CTO at NIIT Technologies Ltd, an IT industry veteran with more than 30 years' experience. He blogs at http://setandbma.wordpress.com.
The blog focuses on emerging technologies like cloud computing, mobile computing, social media aka web 2.0 etc. It also contains stuff about agile methodology and trends in architecture. It is a world view seen through the lens of a software service provider based out of Bangalore and serving clients across the world. The focus is mostly on...

  • Keep the hype out and project a realistic picture
  • Uncover trends not very apparent
  • Draw conclusion from real life experience
  • Point out fallacy & discrepancy when I see them
  • Talk about trends which I find interesting
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