Flintstones to the Jetsons: Wonders of technological progress with convergence
Keywords:
Economic growth, technological change, human capital, economic convergence.Abstract
This article is based on a collection of essays. They describe how the convergence and acceleration of growth based on human capital and technological progress will present us an economic singularity, here the economy would cease to be the science of management of scarcity to become the science of the study of human action in an environment of radical abundance. Quantitatively, if in the XXI century the world converges, GDP per capita would grow at a rate of 4.18%, so it would be multiplied 59.1 times, exceeding 4.6 times the achievements of 20 centuries. If you want to get an idea of what I mean, compare our standard of living with that of the beginning of the Christian Era. Then consider what a person from that time would feel if you told them what happens in our world today. Now, try to rationalize and multiply those feelings 4.6 times. Welcome to the Singularity.
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