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Why did we have all these technological advances during a recession?
Smartphones, tablets, better gas mileage on cars. I understand that technology advances quickly, but why did all these advances have to happen during and after the economic downturn of '07?
3 Answers
- rowlfeLv 78 years agoFavorite Answer
Not everybody suffered. Many basic manufacturing businesses never felt anything except maybe fewer sales, because of less of a demand. Luxury items suffered, however. Yachts and private planes dropped a lot, for example. So, time marches on and they (basic manufacturers) continued research and development of their products. It was the banks and insurance companies and real estate that suffered the most. Little people like me, part time inventors, who were involved with securities sold by the banks, lost money on the investments, but that did not bankrupt me, since I was diversified. I only lost 40% of what I had invested. Investment is like gambling, but what you are betting on is different. You can bet on the toss of a coin or bet on the skills and products of a company. Either way, over time, you win or you lose.
- Mr. DLv 48 years ago
technology evolves faster and faster. every one new discovery opens the door to hundreds others which in their turn open the door to thousands others.
the fact that the world stands in an economic recession is irrelavant. Perhaps not as many people will get their hands on the newest gadgets because they cant afford them. And maybe they wont be as massively produced due to high costs. But have no doubt they will be created all the same.
- 8 years ago
good question. Idk besides the fact that besides looking at money, they come up with concepts at new ideas. Idk, money sidetracks a lot of people from seeing other things. I guess when it was hard to come by we just created something better.