Economic Growth

• By far, the major driver of economic growth is the creation of new technology, which increases efficiency and also often creates entirely new ways to make a living. More and more tasks are made simple through technology every year, and more areas of life are improved. Technologies such as the radio, the computer and the automobile have created many economic booms of the past. Economists stress the importance of technology in creating long-term growth.
  
  

Communication

• Through modern technology, it has become possible to communicate with any person in any part of the world from any other. This has brought humanity together in ever increasing ways. Thanks to the Internet and other more recent technologies there has begun to develop a worldwide culture in which all people can partake. Also, this worldwide culture has proven to be much more democratic, helping fight autocratic government in countries such as Iran and China.
  
  

Shaping the World

• Technology is a part of a general process whereby humanity shapes the world to be more hospitable. The first technology was arguably focused around providing food and shelter. As technology improves, more of the physical problems of humanity cease to be an issue. Most people living in the developed world today take the ability to clothe and feed themselves for granted. As technology improves, it is hoped that other problems, such as disease, will end.
  
  

Exponential Growth

• One of the advantages of the technological cycle is that it appears to have an exponential growth curve. One technological advance becomes the starting point for a whole host of others. This leads to an exponential process where growth is accelerated as time goes on and the pace of innovation increases. The problems of an older example of technology are often solved by a newer one. The telegraph becomes the phone, which becomes the Internet.