Most people are waiting for a new technology to trigger the next upswing. But it will be the knowledge workers who will promote prosperity in the future.
The unstable situation of the world and the economy are causes for concern. But zero interest rates and allocation conflicts are normal when a technological network is fully invested. This occurred, for example, in 1873 after the railway construction and in 1929 after electrification. With the proliferation of computer technology nowadays, we must look for the next upswing in the scarcity of today.
The next years could be uncomfortable – in spite of zero interest rates, spending programs like the one in Japan, and central banks' worldwide glut of money. Although computer technology generated a stormy growth and made us more productive over the decades, it has now exhausted its potential of handling structured knowledge work such as salary calculation, databases, and robotic control. This is the reason why the world economy is stagnating in relation to the potential of people who could ...
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