Economics (11)

An amateur approach to world economics.

Alex Uribarri

3 future industry trends: space travel, life extension and AI

If you have children as I do, probably you are wondering in what world they will live when they'll grow up. Also, maybe you just finished your High School and looking into what career you want to pursue in the college. Prediction is always difficult, but there are chances that we can, at some extent, predict the future trends based on current events and on our best guess. I was interested in forecasting and latest technology for more than ten years, regularly reading news and updates on what's going on on the top notch of research and business. Also, I work in Amazon and I have a daily interaction with the latest tech and trends. This gives me some experience and knowledge to edit this short list of industry trends for coming 50 years and make some authoritative guess. 

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Alex Uribarri

Taxation on robots

While first world nations are facing decline in population growth and eldering of the mean citizen, doubts on the public pension system arise. By 2050 in Europe, it is expected that there will be around 60% of dependent residents, compared to these in working age. This means that the tax burden on working people will be very high in order to pay the pension.

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Alex Uribarri

Smart cities?

Under the Smart Cities paradigm we understand implementation of digital technology and so called big data into municipal management. Currently it solves relatively easy problems such as traffic congestion (traffic cams and statistics), assignation of limited resources in public services (queue management) or real time control of some municipal assets (IoT attached to lighting systems, for example). Essentially these problems occur in "real time" and can be predicted and managed efficiently by IT systems. Statistics may help to identify trends that allow managers to project certain data into future so quantitative analysis is simple. If there's some known fundamental events that may affect the projected figures, forecasts may be modified in order to depict changing reality.
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Alex Uribarri

What would be the last job on Earth?

In this animated video The Guardian depicts a not so far future, where most of the jobs are performed by automated machines. This makes me ask myself, what would be the last job ever? Economists say that education and entertainment will be the only industries that survive the robotization. What I think is that we don't know what kind of jobs will appear in the future, but anything that implies creativity will requiere human approach. I don't believe that there ever be such thing as "last job", what I believe is that the notion of "job" known to us will evolve with time. Human brain is too powerful and sophisticated to get rid of it completely.

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Alex Uribarri

What economic growth is? (2019 Updated)

World Development Indicators_-_Google_Public_Data_Explorer

Above chart from Google Public Data show World GDP per capita growth from 1960 to 2014. Data is shown in constant US Dollars of 2000. This means that there’s no inflation effect in this chart and 1 USD of 1960 has the same value as one of 2014. Or, giving it slightly different perspective, if 1 USD = 1 Big Mac, an average world citizen in 1960 was able to buy 3000 Big Macs yearly and this number raised to 8000 Big Macs in 2014.
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