science, technology and the economy
economy
goods and services are produced, sold, and bought
formal economy
money based transactions
informal economy
bartering of goods and services
odd jobs
mutual assistance
etc.
earliest economic activity
as society became more complex so did the economy
middle ages
industrial revolution
agrarian societies
economies largely based on farming and on skilled craftsmen offering their services - cottage industries
still the case in many less developed countries
first in britain
advances in science
new knowledge
new technologies
main driver of industrial revolution
the steam engine
transforms thermal (heat) energy into mechanical (kinetic) energy
Thomas Newcomen
first managed to produce steam engines with a useful purpose - they operated pumps which were used to remove water from mines
James Watt
improved steam engines such that they could drive a variety of industrial machines
the use of coal-fired steam engines led to the beginnings of mass-production systems
The Spinning Jenny
hand driven machine that would rapidly spin cotton thread
key to industrialization of textile manufacturing
cottage industries started giving way to factory based production systems
factory owners bought labour to generate profits
beginning of modern capitalism
dominant economic model
advances in science and technology revolutionised transport
gradual drive towards globalisation of economies
development of locomotive in early 1800s
facilitated bulk transport of goods over long distances
would not have been possible without parallel technological developments in the iron industry
steamships made sea navigation faster and much more reliable
Suez Canal had a huge and immediate impact on world trade
made it more feasible to import raw materials in bulk from the colonies and transform them into manufactured items which consumers were more than willing to buy
in just over a century, technological advances saw Britain going from a rural, agrarian population to a country of industrialized towns, factories, mines, and workshops
industrialisation in Europe started in Belgium
Science, Technology, and the Economy after the Industrial Revolution (pt.2)
the term scientist is rather recent
previously, scientists were known as natural philosophers
advancements in the 19th and 20th century
founding of many technical schools and institutes which encouraged the spread of scientific knowledge and provided further opportunity for technological advance
governments started supporting science more directly
giving research grants to scientists
founding research institutes
rewarding distinguished scientists with awards and official posts
paralleled by industry support
the "natural philosopher" following his private interests had given way to the professional scientist with a well-defined and respected public role
While surveys have shown that scientists often feel that their work is undervalued, for many scientists, earning good money is not the reason they pursue a career in research
scientists give more value to...
intellectual freedom
the independent pursue of research
the possibility of learning and advancement in their career
the thrill of discovery
Nowadays, particularly in the developed world, sudents inclined towards STEM subjects have many opportunities to contribute to economic growth through research and development
archaeologists
biologists
chemists
physicists
astronomers
computer scientists
engineers
climate scientists
medical researchers
these all have an important role in society and the economy
Gender imbalance in professions related to science and technology
research has repeatedly shown that females are in no way less gifted for science or find science more difficult than males
yet in most countries, male engineers and computer science graduates far outnumber their female colleagues
also, in the US and Europe, there are far more male than female university professors
Cultural issues
females largely viewed unsuitable for most work outside home
mainly expected to take care of home and family
male dominance at decision making levels
journal editorial boards/grant-reviewing boards/academic selection committees etc.
women are rarely visible at these levels, fixing the subconscious idea that science belongs to men
gender stereotyping (especially in the media)
scientists have almost invariably been shown as being male
lack of exposure given to female role models
practical difficulties of combining a career with raising a family may make women less likely to choose academic careers
(teaching rather than research -> more regular hours)
it is difficult to keep up with advances in science and technology while away from the workplace for long
Measures to address this imbalance
addressing gender stereotypes in textbooks, curricula, and media
inviting both male and female scientists to schools to speak to children about careers in science and technology
giving exposure and credit to inspirational female role models
ensuring impartiality (equal treatment/fairness) and accountability(responsibility in application processes for grants and job applications
having in place adequate family friendly policies
the greater role of the professional scientist in industrial development, research and innovation had and still has huge implications for the economy
advances in transport technology and computer science have rapidly accelerated the globalisation of the industry
up to the mid 20th century, Europe's technological dominance was supported by an imperialist economic system that gave colonial powers control over the huge resource base of their colonies
however, as empires disintegrated, developed nations (eg. US, Japan, and many EU countries) sought to remain relevant in international affairs through control of markets in a globalised economy
this required more investment in research and development, innovation, and creativity
science and technology became even more central to economic growth
profit driven capitalist system is all about cost cutting and being competitive
technological advances are necessary for maintaining a competitive edge
robotized production lines have reduced the number of machine operators required. -> enabling mass production and lower unit production costs
production started being shifted to those countries with cheaper labour
by the 1990's, Western countries were investing in Eastern Europe, India, China, and other emerging economies
rapid economic growth in the emerging economies is paralleled by high unemployment rates in many developed countries
today, we are in a situation where scientific knowledge and technological progress have reached levels which were unimaginable just a few decades ago
highly developed infrastructure, productive capabilities, better educated and skilled human resources, and a global communication network => opportunities for rapid social progress
yet we continue to undervalue and over-exploit natural resources for profit leading to large scale environmental degradation that is affecting present and future generations
it is still being argued that economic theory needs to shift its focus from maximising profits to investors to sustainable development (sustainable development) and again, science and technology have a crucial role in bringing about economic growth that benefits society while conserving our environment