Economic Picture of the World in 200 years to come

Economic Picture of the World in 200 years to come

Introduction

Individuals have all the time been intrigued of how and what the economic picture of the world will look like in the future. In order to understand the future, it is important for one to understand and know about the past. This involves understanding what led the world to where it is today and the economic variables that have changed along the way. The world has greatly changed in the last several years but it is observed that human beings are driven by the same human needs such as food, feeling of being loved and appreciated, sleep, and sex. As much there may be several economic changes in the future, the need for such basic needs is not likely to change.

Among the changes likely to be experienced in the future include the society transitioning from an oil-dependent society, development of new forms of medicine, development of artificial intelligence, and continued exploration of the space. The world is also likely to experience challenging climatic changes and new economic inventions that are likely to make life easier and entertaining for some individuals. The economic situation in the next 200 years will be more sophisticated to understand and comprehend in relation to economic variables that include investment, innovations, productivity, and taxation systems that regulate the markets. It will be important to understand how societies and economies assimilate and create paradigm-changing technologies and economic situations of organizational structures and government accountabilities. Individuals are likely to spend more of their income on health matters and in fighting and getting rid of diseases such as HIV/AIDS. Vaccines that are used to prevent or eliminate diseases will become affordable to low income earners across the world. The development of such vaccines will be attributed to high levels of technology that involves the use of sophisticated machines. Countries across the world are also likely to dedicate more of their income in eradication of malaria and an effective vaccine that would completely eradicate HIV/AIDS. Getting rid of such diseases will ensure a more healthy population and thus a more productive economy.

The development of the internet and web is believed to provide a generative and free flow of information in a more controlled, safer, commercial, and a problem solving pragmatic manner. The development of internet media such as Apple and Face book will promote cloud capitalism, whereby the consumers will allow the producers and companies to manage information, ideas, money, media, tools, and software on their behalf. This will give companies the opportunity to know more about their clients through sharing of data and thus make the relationship between producers and consumers become very close. Given that the human population is expected to significantly increase, the demands for food, energy, and water is expected to equally increase. The human population presently uses approximately 40% of the global primary energy production and this is expected to increase thereby bringing in adverse economic consequences in the future. The demand for resources by the increased population will put pressure for individuals to set up more industries to produce more food. Such industries will in turn emit more toxic chemicals, which when become emitted into the environment, will lead to the elimination of such species.

Conclusion

The economic situation of the world is fast changing given the new inventions and technologies. The world will be very sophisticated 200 years from now in terms of industrial production. The world will have become very developed with a more accessible source of information between buyers and sellers; employers and employees. The world will be more diverse with individuals being able to co-ordinate economic activities in various countries across the world just at the touch of a button.