A Quote by Peter Thiel
The debt austerity would not be problems if we had technological progress. If you doubled the debt in the U.S., and the size of the economy doubled because of technological progress and growth, the two would roughly cancel out and it would all be a totally manageable situation.
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Once computers can program, they basically take over technological progress because already, today, the majority of technological progress is run by software, by programming.
The Church welcomes technological progress and receives it with love, for it is an indubitable fact that technological progress comes from God and, therefore, can and must lead to Him.
If you have a sane economy, and by sane economy I mean one which is not addicted to debt, not a Ponzi economy, then the change in debt each year should contribute a minor amount to demand. Therefore, if you tried to correlate debt to the level of unemployment you would not find much of a correlation. Unfortunately that is not the economy we live in.
Hardly had I left when we ran into the Korean war, doubled what I had asked for and doubled it again. I had told him I would stay in Government, be honored to, but not with the Air Force.
I'm in favor of free trade, but I think if you had to make a choice between having technological progress versus free trade, you had one or the other, you should always pick technological progress. I think it's an incredibly important variable for creating more prosperity.
We might expect intelligent life and technological communities to have emerged in the universe billions of years ago. Given that human society is only a few thousand years old, and that human technological society is mere centuries old, the nature of a community with millions or even billions of years of technological and social progress cannot even be imagined. ... What would we make of a billion-year-old technological community?
In the developed world, technological progress means that you can have a situation where there's growth, where there's a way in which everybody can be better off over time.
I hope that the United States would cooperate with the partners to reduce its debt. The debt is a problem. The debt is with you, but unfortunately, the debt is not only with you but with us and with the rest of the world because we all, one way or another, are dependent on the dollar.
Technological society leads to increasing numbers of people who cannot adapt to the inhuman rhythm of modern life with its emphasis on specialization. A class of people is growing up who are unexploitable because they are not worth employing even for the minimum wage. Technological progress makes whole categories of people useless without making it possible to support them with the wealth produced by the progress.
The paramount doctrine of the economic and technological euphoria of recent decades has been that everything depends on innovation. It was understood as desirable, and even necessary, that we should go on and on from one technological innovation to the next, which would cause the economy to "grow" and make everything better and better. This of course implied at every point a hatred of the past, of all things inherited and free. All things superceded in our progress of innovations, whatever their value might have been, were discounted as of no value at all.
Traditionally, universities have seen size as potentially dilutive to quality. If you doubled the size of campus and faculty, most would argue that you would make it a less compelling school. However, online schools will be as good as their classroom peers only if they are large enough to afford a substantial and ongoing investment.
I've found that when you can quickly knock out debt you get motivated because you see progress. Then you attack the other debt so fast that even if it's at a higher interest rate, you don't end up paying much more because you've gotten rid of it.
Examine the legacy that we inherited and what we did. We had boom-and-bust economics and a doubled national debt.
Fiscal decentralisation does not lead to higher economic growth because economic growth is much more driven by factors other than taxes and spending, e.g. increases in technological progress and improved human capital.
Maybe the preoccupation with technological progress has overshadowed our concern with human progress.
You remember had this gigantic clock in the arena showing the size of the national debt. And Paul told America, if you elect Republicans, we can fix that. But, if Paul Ryan was being honest, he would've pointed to the debt clock and said, we built that.
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