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"Unlimited Wealth," by Paul Zane Pilzer with introduction by Bob Meyer, Barter News, Sept 1992. Page
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Explains how we live in a world of unlimited physical resources because of rapidly advancing technology.
"Unlimited Wealth: Paul Pilzer Tells Where to Find the New Prosperity," by Duncan Maxwell Anderson, Success Magazine, October 1993.
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page 11 of 12 experience a quantum increase in their expectations. If we compare 1970 with 1990, we find that in 1970 the average American had to work three times more hours to earn enough to buy a television set. Twice as long to afford a suit of clothes. And 25% longer to earn a new car. During the same 20 years, the square footage in the average American home increased by 30%. There are literally thousands of examples of effort being amplified in a way that expands rewards and shrinks time. These examples illustrate a profound principle: The value of physical resources is derived from technology. For example, consider the South Sea islander in the late 19th century who learned to weave palm fronds in a certain way that assured a water tight roof. Palm fronds were indigenous to the island. They had no value until the technology of weaving them gave them value. The principle described can be expressed algebraically: W = PTn In this equation, let "W" represent wealth. Physical resources are represented by "P" and technology by "T". The "n" represents the exponential effect of technology advancing on itself. This simple formula has enormous implications--not just in terms of improving our understanding the economic basis of society... but as the key to developing more effective strategies for our individual lives. This formula tells us that we do not have to play a zero-sum game of scarcity. Instead of finding better ways to slice a pie of known weight and diameter, we can find ways to bake a new and better pie. It follows, therefore, that technology defines what constitutes a physical resource. (Consider the palm fronds.) It's useful to also remember that until Gottlieb Daimler and Carl Benz developed the first lightweight internal combustion engine, oil was not considered to be a valuable resource. As a matter of fact, gasoline was thrown away as a waste product derived from making lamp oil. Technology is the Key |
gasoline increased by 30%. As a
footnote to this transformation, it's useful to point out that a typical
fuel injector costs about $25 to manufacture. But it replaces a
$300 carburetor. Historically, it's clear that throughout our history, there have been periods of relative technological calm interrupted by intense periods of technological achievement. Why? And why do different cultures advance technologically at separate rates? It now seems clear that a society's technological advances are almost entirely determined by its ability to process information. Information is the raw material of technology. W. Michael Blumenthal published an article entitled The World Economy and Technological Change in the respected journal, Foreign Affairs, in 1988. He noted that, "In the 17th century, it took Kepler four years to calculate the orbit of Mars. Today a microprocessor can do it in four seconds flat." Imagine the impact of this happening tens of thousands of times each day, every day, with big and little events throughout our economy. It is technology that sponsors the transformation of a product/service from "luxury" to "necessity". The technological introduction of electric washing machines changed our attitude about what constituted cleanliness and, thereby, the materials, styles and colors that were acceptable in shirt-making. The population of America is growing at a slow and predictable rate. But the growth in the number of telephones is nearly 500% higher than the expansion of population. Technology creates new features which, in turn, create new applications. These applications help people to "need" more instruments. This process is aided by the technological fact that unit cost drops as the size of the manufactured base expands. Thus, technology influences the level of demand for a product/service by influencing the price by which it can be sold. What people want is a function of what is available. What is available is technologically determined. Most economic growth is the result of technological revolutions in the marketplace, not improvements in product, service or distribution. The true predictor of economic growth for an individual, a corporation or a society is the size of the technology gap. That is--the degree to which an individual or a company or a society is not using available technology. - Barter News prev next |
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