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Gale Pooley
Gale Pooley

ED 13

Economy & Finance
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Lecture 13 Economic Development
“people . . . after 45 years of work are not making a nickel more than they did 45 years ago.”
$10.95. Blue-collar compensation was around $6.00 per hour. It took 1.83 hours to earn the money to buy your own tool that would let you do about one calculation per second.
Today you can have an Xbox One X for $299 dollars. Blue-collar compensation is now around $32.00 per hour. It will take you 9.33 hours to earn the money to buy your console.
The graphical processing unit (GPU) in this device runs at 6 teraflops. A teraflop is 1012 or one million million floating-point operations per second.
For the time it took to work to buy a device in 1975 that could do one calculation you will get 1,174,103,678,930 calculations today.
1 per second
6,000,000,000,000 per second
World War I 1914 - 1918 16 million deaths In 1918 the Spanish Flu 50 million deaths 1.86 billion 2.7 percent
Today 7.5 billion 2.7% 202 million Germany and Japan Philippines x 2
17 SDG Paper
Chapter 7: Mexico’s Efficiency Problem Efficiency innovation reduces employment
Chapter 8: Good Laws Are Not Enough Innovation creates institutions Culture evolves with innovation Institutions are what people value
Chapter 9: Corruption Is Not the Problem; It’s a Solution People hire corruption to do a job Innovation creates options to corruption
Chapter 10: If You Build It, They May Not Come Infrastructure follows innovation No innovation, no makkets, no markets, no sustainable infrastructure
Chapter 11 : From Prosperity Paradox to Prosperity Process Innovation looks different Each country must discover
Ed13

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