For all those thinking that technology will only spell doom for us, here is news you might like to read. Recently, chairman of the Federal Reserve, Ben Bernanke stressed at how good the effects of technology could be at a college commencement address. Though he agreed that the long range consequences of innovations like the internet could be hard to predict, he stressed on the fact that researchers have only just started everything.
While Bernake did not make any comment about interest rates in his speech he tried to take a long term view of economic growth, by measuring it in decades.
“We live on a planet that is becoming richer and more populous and in which not only the most advanced economies but also large emerging market nations, like China and India, increasingly see their futures as tied to technological innovation,” were some of his remarks, which got released later in Washington.
He further stressed on how innovation can take things forward for us. “Both humanity’s capacity to innovate and the incentives to innovate are greater today than at any other time in history.”
Bernanke’s sppech came at a time when the current computer revolution has been looked at sceptically by many people. Bernanke, on his part, believes the computer revolution will be as useful as the steam engines were in the past.
At the end, the Fed Chairman told the graduating batch the importance of learning and said that to succeed, one needs to keep learning – always.