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Tech Exists

We are economists writing about economics: Karl Smith, an assistant professor of economics and government at the School of Government at the University of North Carolina; and Adam Ozimek, an associate at an economics consulting firm. Sustanon 250 Weekly Dosage As most in our profession are eager to tell you, economics includes just about everything, so we''ll be blogging with varying degrees of success about the economy, markets, politics, science, technology, philosophy and culture. We both come from a similarly vague libertarian ideological perspective, but we''ve been called neoliberal as well, and idiosyncratic might be the best adjective to use.

I had this epiphany when listening to a podcast recently where software patents were being discussed. Someone was talking about the early days of patenting in America when they were used for things like steam engines, and steam engines were contrasted to the "technology industry." But since when do steam engines not count as technology? I think the pioneers of the industrial revolution would be very surprised to learn that they weren''t involved in any high tech innovation

Existence is addictive hobby of mine. That is, trying to determine whether a phenomenon represents some "natural class" Trembolona O Masteron whatever that may mean or is just a product of our particular culture and worldview and could just as reasonably been defined differently by different folks. To give meat to the idea its conventional wisdom to deny the existence of race. Scott Sumner has denied the existence "Achat Anabolisant Belgique" of inflation. I assert the existence of both.

But, on tech. Matt''s point is sensible enough. In modern usage, tech is really just a name for companies that use the computers and the internet, but lots of non tech companies use computers and "Buy Cheap Jintropin Online" the internet, too. Moreover, tech companies don''t necessarily compete with each other but they often do "buy cheap jintropin online" compete with non tech. So what are we really talking about here.

My assertion is that we are talking about companies whose business model depends on "the tech hypothesis." This notion which I "Oxandrolone Powder India" just made up is that exponential increase in information processing and telecommunications capabilities will overwhelm all other competitive advantages. The takeaway being that only companies that "excel at leveraging computers and the internet" will even be eligible to compete as time goes on. Sure, amongst those companies traditional sources of competitive advantage will matter but absent excellent tech nothing will matter.

The tech hypothesis suggests that Amazon will eventually kill Wal Mart unless Wal Mart fundamentally changes into a "tech company." Wal Mart has clearly demonstrated a huge competitive advantage in driving down prices and increasing availability for low income shoppers. They may also have some other brilliant ideas up their sleeve. However, the tech hypothesis suggests that unless one of those brilliant ideas is leverage Amazon level information technology then we don''t even need to finish the discussion. Wal Mart is dead and its just a matter of time.

What all the tech companies then share is dependence on this hypothesis as a part of Buy Cialis Norway their business case. This in turn means that pushing the frontiers of information technology, hiring the best engineers and amassing war chests to buy as of yet unknown tech innovation must be done at all costs. It also produces a Highlander like affect where in the short term its tech competitors can help each other by creating thicker markets for engineers, venture capitalists and other necessary ingredients to forming a tech company. As this happens the "tech advantage" grows and non tech firms die out.

However, once this is over the tech firms must turn on each other because in many spaces, in the end, there can be only one or two with antitrust intervention. So, there is a weird tension in which folks are cheering each other on while simultaneously preparing for the moment they will slit each others throats.

In any case, note that the "tech hypothesis" is not a social construct or a shorthand for hurrah for computers. It generates falsifiable predictions about the future. That forms the hook, that we hang the hat of Testosterone Cypionate Side Effects Ftm "tech" upon.

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