I am always amazed at how technology was able to continually change the equation and become a game-changer, but take heavy long shopping experience and reduce to practice 30 minutes away from the comfort of the couch-for people is a dream.
The other hand the potential of technology is the ongoing debate about information overload and the idea that too much technology can be annoying and people’s attention spans are shorter.
Being a knowledge worker I wondered what the point there will be too much for humans to utilize technology effectively? When will the addition of technology brings no more utility or productivity to anyone because all too much? Surely the point it is coming as it does with the other factors of production.
There is an assumption that everything at some point should be subject to the law of diminishing return reply. But there is one thing that constantly oppose this and continue to add to the people’s productivity, enhance the capabilities and enable possible from seemingly impossible. It is technology.
The law of diminishing return yg comes from 1798, when clergyman Thomas Malthus examined the impact of population growth and concluded that the population will go through naturally found a way to check itself. This is known as back-reduced from the law.