technology - Economics Students Society of Australia

technology

A collection of 34 posts

Digitalisation and the generation left behind

Digitalisation and the generation left behind

Since the early 2000s, digitalisation has always been a trending phenomenon in economies around the world. From heavy machinery commonly seen in standardised production processes to the high-tech service AI used in hospitality and tourism industries, digitalisation is unarguably leading to changes in society and business in both the near

“Embrace, extend and extinguish” – Amor Fati and the Paradox of Recurrence

“Embrace, extend and extinguish” – Amor Fati and the Paradox of Recurrence

John D. Rockefeller’s Standard Oil dominated the 19th century’s economy through the acquisition and horizontal integration of its competitors and supply chain. And anyone who refused to be bought, was destroyed with predatory pricing strategies. Digital conglomerates are under increasing suspicion of similar anti-competitive behaviours. Just as supermarket

Does Blockchain live up to the hype?

Does Blockchain live up to the hype?

Heralded as the ‘next major disruptive technology and worldwide computing paradigm’ following mainframe computers, personal computers, the internet and smartphones,[1] the general consensus is that blockchain technology has huge potential to transform the way we do business, and manage our personal affairs. However, it’s becoming very difficult to

The fight against cyber attacks

The fight against cyber attacks

In 2016 alone, $81 million was stolen from Bangladesh’s central bank by suspected North Korean hackers. A separate incident saw the US National Security Agency’s hacking tools leaked on the internet. A $4.8 billion takeover of Yahoo by telecommunications giant Verizon was threatened by severe data breaches,

The economics of self driving cars

The economics of self driving cars

Self-driving cars, or autonomous vehicles, have become a reality in the 21st century. In fact, by 2030 the majority of cars on the road will be driverless. [1] So whilst we brace ourselves for the rise of the machines, it’s time to analyse what effect these cars will have

Does it pay to be smart?

artificial intelligence

Does it pay to be smart?

We live in a world that is obsessed with test scoring and qualifications. University life is a perfect example – the weekly quizzes, assignments and exams looming round the corner are all opportunities to seemingly quantify our intelligence. Welcome to meritocracy, where people are valued based on their intelligence levels [1]

Why staying in a dying industry may be the right choice...

Why staying in a dying industry may be the right choice...

At the moment, talk of a ‘new economy’ is spearheading the economic narrative from the government. Economic progress, we’re told, relies more than ever on ensuring the population has the right skills for the jobs of the future. But the right skills are often not the ones people imagine

Election 2016: The Innovation Agenda

australian politics

Election 2016: The Innovation Agenda

It has been widely recognised that the future of Australia’s economy lies with harnessing the population’s intellectual capital as the nation transitions away from an economy reliant on the once booming resources sector. Research and innovation has thus arisen as an important election battleground, whether indirectly through channels

Nominal Interest: Semester 1 Finale

artificial intelligence

Nominal Interest: Semester 1 Finale

In our last episode for the semester, the Nominal Interest panel featured our regulars Tom Crowley, Priyanka Banerjee and Sam O’Connor, plus two new panellists, Asanga Seneviratne and Jasmin Manetta. The discussion took a philosophical turn last week, as the panel chatted all things Artificial Intelligence and what the

Tech innovation is no panacea

economic growth

Tech innovation is no panacea

The next great driver of growth is shaping up to be centred on the technology industry. We see this in political rhetoric across the developed world, from Malcolm Turnbull’s ‘Ideas Boom’, to Barack Obama’s long-term focus on S.T.E.M. education, to that vague recurring notion of

Where Will Our Economy be in 10 Years?

Australia's economy: then and now

Where Will Our Economy be in 10 Years?

So far, 2015 has been a rollercoaster year for our economy. From making historic deals with China [1] to experiencing a slowdown in economic growth, [2] it seems that Australians will embark on their future with uncertainty. The question remains, should we be worried about our fate? The pillar for

Out with the Mining in with the...?

Out with the Mining in with the...?

Before the 19th century, Australia’s economic output was made up mostly of sectors involved in basic necessities, such as food, leather and domestic items, with the government acting as the primary producer and consumer. It was only in response to the gold mining boom and growth in the wool

The development of interconnected markets

The development of interconnected markets

We are midst of a digital era. As I look around me on the train home, technology surrounds me. Students, just like myself, are busily surfing the internet on their phones, listening to music and messaging their friends. Workers are clattering away on their laptops, putting in an extra ‘shift’

The Hanseatic League

Hamburg. The majestic Rathaus imposing at the centre. Just nearby, the leviathan iron canopy of the Haupbahnhof mantling the throng of the Deutsche Bahn trains. Further besides, the deep water Port of Hamburg frilled with brick warehouses lining the angular canals of the Speicherstadt, carving into the city. The nightly

Wisdom via iTunes: Understanding the booming podcast market and what’s worth a listen

Wisdom via iTunes: Understanding the booming podcast market and what’s worth a listen

With the latest operating system update for its mobile devices (iOS8), Apple acknowledged the resurgence of an industry that had become maligned after its stunning rise in the mid-2000s. Back then, podcasts had been a mandatory app for all mobile devices. They took the digital world by storm in and

Y2K

1st January 2000 was meant to mark a new century for the world. After some of the most catastrophic events of the 20th century came and gone, including two World Wars and an abundance of economic failures – the new year was but a welcomed godsend. This would surely, as many

Disruptive innovation

Disruptive innovation

Your friend is in the car with you and you are both trying to locate tonight’s dinner party. After a full ten minutes of searching for the place, you come up with a brilliant idea and ask your friend to ‘Melway it’. For the following five minutes you get

Working hard or hardly working?

economic interdependence

Working hard or hardly working?

I think much of what I like about capitalism stems from the idea of certainty; the idea that we can be sure, perhaps naively or misleadingly, that individuals will always act in accordance with self-interested values. It definitely makes it a lot easier to figure out how I should act

iRobot – a reality?

aging population

iRobot – a reality?

In light of the recent rise in the pension age to 70, it seems fitting to consider what future we are actually heading towards. Is it one in which we live longer and therefore work longer to sustain ourselves? Or will robots take charge of all menial societal functions leaving

Pondering pharmaceutical patents

Pondering pharmaceutical patents

There lies a vast degree of difference in the living standards and Human Development Index rankings between countries today. How can we explain this? Research has shown that statistically, it is not attributable to natural endowments but more so to the inherent quality of institutions [2]. This can be measured

Huawei: a justifiable ban or a missed opportunity?

Huawei: a justifiable ban or a missed opportunity?

Both the Coalition and Labor branches of government have categorically ruled out any Huawei participation in the Australian National Broadband Network. But is placing a blanket ban on one of the world’s largest and arguably most far reaching telecommunications giants from investing in the NBN justifiable? The Chinese company

The rise of the QWERTY keyboard

The rise of the QWERTY keyboard

If you look down at the keyboard you are sitting at right now, chances are that the first six letters on top row spell “QWERTY”. Conventional economics would tell us that the reason the keys on your keyboard are arranged in this way is because it is the most efficient.