TECHNICAL ECONOMY 22/03/22
The title may refer to how technology is applied to the operation of the economy, to work faster, proficient and more accurate in outcomes. But first, I must admit I am not the expert in the field. I learn from information available on the Internet. My comments are also limited to the social factor.
That aside, my interpretation of the term follows; it's an unreal economy, a monetary economy. So if you apply my interpretation to the above definition, it basically reads; how to make money faster, better and for real.
I guess the olden ways were waking up in the morning, going to work to make some products which are sold on the market for a profit and for a wage. Today instead, some rich dude walks in and invest a few millions on the product and instantly, demands for the product increase and so is the profit.
Notice the difference, you don't have to grind your labour all day. Technology packages the product in glossy fabrications and the media does the rest. The product at the same time does not evolve into a newer or better form, it is still the same. But the price keeps on rising. Does this remind you of housing?
And to complete the technical revolution, your services are no longer required as the robot works all day 24/7 for nothing. And that makes the capitalist more profit than ever.
In order to make this work, there has to be a population of consumers. But few more workers join the sector as they lose their jobs to robots.
The modern work force involves with programming data to animate machines in production of the desired outcome. Glossy fabrication is saying the same thing in a technical way to sound intelligent and smart. It must be like talking about tasty food that's making you hungry.
However, if the robot is making the product without a wage, then the robot must surely be cheaper, but instead its more expensive. Oh, but the cost of glossy fabrications and smart media advertisements have made up for that. Not exactly material but technological tools.
Then you have others who collect social factors such as the mood of the people, the weather effect, supply of material resources and climate change. And they get creative in justifying the rise and fall of stock and the dollar.
On a weather crisis, the people are already feeling down when another poll asks how they feel about the economy is more of designing a desired outcome. But that's part and parcel of technical association, no one really should know the reality of fabrication. And they spend a lot of money on media communication.
And this is the area where work must be available for the future in technical packaging of production. But these jobs are taken over by foreign workers and middle-class graduates while us labourers join the consumer sector. Still, we are paying for expensive products when made by robots for nothing and nothing tangible is added to make the product any better.
In the past, the government attempted at regulating materials to lower the price of the overall product and pass on savings to the consumer. I think business among capitalists found something else to justify the increase. So, they keep the lower price of materials and the overall expensive price of the product.
Keeping in mind that the new work force is made up of foreigners and middle-class graduates. So it looks like when tax is lowered for the workers, the rich gets richer and consumers get nothing. But the government is smart enough to target social spending where it needs the most. This spending is quickly generated back to the real economy when consumers spend on basic needs.
The real economy is now generated by consumers while the new middle class labour force involves themselves with glossy fabrication of the unreal economy.
That guy over there has shown us how to manipulate the market by investing tens of millions on certain stocks to influence price. Shareholders may share a profit from the product but you know, nothing new has been tangibly added to.
If you look at Putin's invasion of Ukraine and who's profiting from it, apart from weapons; gas, oil and electricity prices are inflated. So, are Putin and his oligarchies expect to be trillionaires after? Not if sanctions are working against Russia. But the fact is, Western oil distributors are benefiting from gas and oil inflation and in turn the cost of transport is added to goods and services.
The invasion should Putin survive, would increase the population for Russian consumers. And while that's blood money achieved cheaply for the elite class, it certainly adds Putin's image among atrocious dictators who took advantages of the poor for their political and economic gain.
Technical economy may sound unreal, but certainly has deadly consequences. Capitalism in an economic crisis used to be prioritised over people. Business and banks were publicly funded while people were left to forage on their own accord.
Now, money accumulation, market manipulation and captive consumer under invasion and war are somewhat attached to economic materials and tools of production. So, technical economies therefore are really scary.