Technology as a Determinant of Economic Development

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TECHNOLOGY AS A DETERMINANT OF ECONOMIC DEVELOPMENT

Technology has been a huge accompany to mankind; in households, communities, markets, and firms. The fast pace of the technological improvements brought many changes and progress, especially in the field of economy. Human needs have no limit, and in order to maximize the “satisfaction of social wants”, improvements are practiced in order to produce and distribute large amount of goods and products.

Philippines is a small populated country which has a large number of citizens, and produces and distributes mainly agricultural products like rice, and because it is a less developed country, imported machines are not afford to be bought for they cost a large amount of money, therefore it is much preferred if labor – intensive technology is to be used. This means more labor and less machines, opposite to capital – intensive technology which is more efficient in industrialized countries like United States and Germany.

There are factors that should be considered in importing and applying imported technology – local conditions, economic, social, cultural, political, and managerial aspects. One given example was the Western technologies imitated by Japan. It was actually a failure because the farm units in Japan are small, and the imported machines are not appropriate in their country. Although Japan is a progressive country that could afford to buy imported machines or build their own machines, still there are certain dilemmas that could happen due to the factors that should be taken in to consideration.

Technology is merely a method of production. They do not replace the role of the mankind, and they also bring harm and danger if not used well. Aside for agricultural and industrial aspects, it is also applied in public administration, education, and social work.

In education, the modern way of teaching os through slide presentations wherein sounds, pictures, and interactive activities can be used...
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