Mary: I’m Mary Walden with economist MW welcoming you to the economic perspective. Today’s program looks at the transformation of inventions. Mike, inventions are a key factor in advancing our society and standard of living. In the 21st century, has the type of inventions we’re seeing changed?
Mike: Summary Answer
- Most inventions relate people to products or services
- One way to look at these is whether the invention moves people to products and services or moves products and services to people
- In 20th century, key inventions were of the first type
- Auto and airplane reduced time of moving people to products
- These will continue in the 21st century – hydroloop and space travel, but more inventions will move products and services to people
- All the remote technology we’ve been experiencing – working, education, medicine
- Some futurists think the inventions that move things to people will increase
- Big benefit – saves people time
- I’m MW
Mary: And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economics.