Salient to Investors:
Ben Bernanke says:
Between 1700 and 1970 worker productivity jumped 30 times, and in the last 50 years, life expectancy increased 8 years from 70 to 78, versus 53 years in 1913 when 60-hour work weeks at manufacturing jobs were the norm.
In the long-run we will see massive changes in technology and life improvement like we’ve seen since 1913 and 1963 as innovators and geniuses work together like never before.
Large emerging markets like China and India increasingly see their economic futures tied to technological innovation. The number of trained scientists and engineers is increasing rapidly, as are the resources for research at universities, governments, and the private sector. Humanity’s capacity to innovate and the incentives to innovate are greater today than at any other time in history.
Read the full article at http://www.businessinsider.com/bernanke-on-the-economic-possibilities-of-the-long-run-2013-5
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