Some experts assert that technological change is beneficial for all groups in our society, which the changes are more evolutionary than revolutionary in nature, and that technology ultimately creates more jobs than it eliminates. It includes innovations sophisticated communication systems, flexible manufacturing systems, computer-assisted design or industrial robots. These modern technologies incorporate powerful and low-cost microelectronic devices that have the potential to increase productivity in office and factory production tasks. From another perspective, there a recurrent fear has been that technological change will spawn mass unemployment. Some experts say that the pace of technological change is accelerating and that thousands of workers in plants and offices are affected as labor saving innovations are diffused more widely.
One of the most cited articles in economic integration literature is that of Abdel Jaber (1971). According to this study, welfare impacts of economic integration arrangements among developing countries should incorporate employment, productivity, and income effects in addition to the production and consumption effects. Furthermore, a number of studies have argued that economic integration among developing countries should not be treated as a tariff issue but as an approach to economic development. For instance, Roberson (1970) argued that the theories of economic integration have merely focused on gains of better resource allocation, whereas economic development is concerned with the employment of idle resources and better deployment of under-utilized resources to stimulate faster long-run growth. Another worth mentioning study is that of Mikesell (1965).
For the true commercialization of MEMS, foundries must overcome the critical technological bottlenecks, the economic feasibility of integrating MEMS-based components, as well as the market uncertainty for such devices and applications. Cost reduction is critical and will ultimately result from better availability of infrastructure, more reliable manufacturing processes and technical
The International Style embraced innovative ideas and goals which had a huge influence due to the advancement of technology in the first half of the twentieth century. As a result, there seemed to be major changes in the style, owing to industrial production and thus there was an emphasis on rectilinear and geometric forms, as opposed to organic and curvilinear forms. The modernist movement was said to be the solution to many problems which included poverty and more particularly, the slum clearance as a principal social problem. With the progression of the technology and industrial age, machinery became the era’s distinctive aim, and subsequently known as “the machine age.” Paul Greenhalgh, a prominent figure in the Modernist period, saw that the appearance of a machine was essentially derived from its function and to him, this was not only economically excellent but it was also beautiful. With reference to architecture, it became clear that futurism and functionalism played a vital role in design, focusing
Q = A.f (L, K, H) Here, Q represents GDP while L stands for Labor, K stands for Capital and H stands for Human capital. As the assumption for the model to work requires technological progress, “A” stands for technological progress. If there’s an introduction of new technology or an improvement in the working of the technology or an increase in trade or commerce, “A” increases. Sources Of Growth. q = A.F (k,h) The model illustrates the need for technological or other influences for growth.
The outcome exposed that manufacturing yield and growth has a weighty correlation with the advancement of the gross domestic product (GDP) of any economy. This therefore implies that the manufacturing subdivision has a key role in the growth accomplishment of any economy and that it is branded by the presence of growing returns of scale. Also, increase in manufacturing productivity and growth rate would inevitably indicate to the expansion in the progression rate of gross domestic product (GDP). Furthermore, business performance has a tendency to be the definitive goal of putting innovation into operation and the utilization of objective or subjective performance markers such as sales, profits and return on investments. The values fashioned by innovation has revealed new methods of undertaking activities and also exonerating better ways of improving or developing new processes and products, which help to increase shareholder wealth and profits.
Technological development and management are considered to be key driving force in the development of any economy . The economic growth of both developed and developing countries depends on it . Hence, the concept of technology as a transformer for national development is jaded if not considered as a critical factor or element to be tackled by stakeholders in any nation. Consequently, what is technology? According to Oxford Advanced Learner's English Dictionary, technology is defined as "Scientific knowledge used in practical ways in industry, for example in designing new machine".
Abstract The purpose of this report is to discuss the influence of Artificial Intelligent (AI) in engineering field especially their use in designing system namely Computer Aided Design (CAD). CAD systems are widely used in engineering field especially in manufacturing industries. The enhancements of the CAD system by applying the AI improve designing work productivity and the quality of it design. Introduction One of the main factors that have a strong impact on the socio-economic development of society is the level of development of industrial development. In countries with a developed economic system level production culture is provided by raging research in the field of new technology.
So we need to find out the causes of power loss and improve the power system. Due to industrialization the use of inductive load increases and hence power system losses its efficiency. So we need to improve the power factor with a suitable method. . Whenever we are thinking about any programmable devices then the embedded technology comes into fore front.
There varied factors of production also known as inputs; such as land labour, capital and organisation etc. The result of the production thus is creation of new utilities or addition of values, thus increasing the consumer satiability of goods and services. The relationship which exists between the physical inputs of production process to the physical output is known as a production function. The main purpose of the production function is to address the allocative efficiency that is the technological and engineering relationship between the physical factor inputs in the production, to the determining resulting physical output obtained by a firm. It also determines the flow of inputs to the flow of outputs in a specific period of time, specifying the rate of outputs to input defining in the form of tables, flowcharts, graphs or an equation.