How many industrial revolutions are going on?

Discussion in 'Economy' started by william the wie, Jul 18, 2012.

  1. william the wie
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    william the wie Gold Member

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    I am trying to get a handle on all or at least most of the industrial revolutions going on at the moment. Here's my list so far:

    privatization of space travel with asteroid and lunar resource exploitation about a decade down stream.
    print manufacture.
    bio-tech
    nano-tech
    Obama's cost containment advisory board especially if it funds off label use of existing drugs.
    The ongoing communications revolution.

    Productivity driven deflation means that real income can go up while cash income goes down. To take one example video, music and literary revenues are going down as a result of electronic distribution but profits and royalties are increasing in all three industries. Personally I have at least doubled my book purchases but only because with kindle and kindle for PC my acquisition costs are much less than half of what a hard copy purchase would set me back. I'm trying to get a handle on how much deflation is actually happening.

    Moore's law is well known but for example Jonah Fisher's embedded capital law is not. Fisher who works or worked for the Chicago Fed has a really dense paper available free on the web arguing that capital equipment costs have been deflating across the board since the 1950s. Other such laws dealing with productivity deflation or other industrial revolutions that I have missed would be helpful, thank you.
     

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