Go with a smile!

Monday, September 27, 2010

3 inventions that changed the world

As an aside, you may have known that old story that the white man colonised the world using 3 inventions – the gun, the compass, and paper. All of these were Chinese inventions. I now say that the collapse of the economy in the West was due to three US inventions. The internet (made outsourcing easier), the container box (made it much easier and more economically viable to move manufacturing operations overseas) and laissez-faire capitalism, which basically took a lot of political power away from governments and gave it to big businesses.

All the 6 inventions mentioned here are involved in some way with globalisation. Some people have taken to calling globalisation a hoax, mentioning that the majority of business transactions are still local. That is true. But hasn't it affected the west in so many ways? The ridiculously high jobless rate? The decline of the previously wealthy first world countries?



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