How does technology change economies and impact GDP of countries?
Simply stated, it appears that technology is tied to economic cycles and major technological revolutions can be correlated to GDP levels. Technology is tied to productivity, which is linked to standard of living. So, economists concur that major technological changes like the introduction of electricity, automobiles and Internet positively impact the lives of people on this planet. Interestingly, GDP and productivity levels always go upwards. The 1970s saw the start of the current modern technology revolutionwith Intel introducing the 4004 processor. As part of this, IP and internet will drive the major productivity gains in the next 20 to 30 years. Remote R&D, BPO, network operations are all a result of this technological revolution. That is how technology has changed our lives.
