Technology

Technology, the application of scientific knowledge to the practical

aims of human life or, as it is sometimes phrased, to the change and
manipulation of the human environment.
The subject of technology is treated in a number of articles. For
general treatment, see technology, history of; hand tool. For
description of the materials that are both the object and means of
manipulating the environment, see elastomers; industrial
ceramics; industrial glass; metallurgy; mineral deposit; mineral
processing; mining; plastic. For the generation of energy, see energy
conversion; coal mining; coal utilization; petroleum
production; petroleum refining. For treatment of food production,
see agriculture, history of; agricultural
economics; beekeeping; beer; cereal farming; coffee; commercial
fishing; dairy farming; distilled spirit; food preservation; fruit
farming; livestock farming; poultry farming; soft drink; tea; vegetable
farming; wine. For the techniques of construction technology,
see bridge; building construction; canals and inland
waterways; dam; harbours and sea works; lighthouse; roads and
highways; tunnels and underground excavations; environmental
works. For the manufacture and design of the means
of transportation, see aerospace industry; automotive industry; ship
construction. For communications technology,
see broadcasting; computer science; information
processing; photography; printing; photoengraving; typography; telec
ommunication. For the processes and products of
other manufacturing industries, see adhesive; clothing and footwear
industry; dye; explosive; floor covering; forestry; chemical
industry; man-made fibre; surface coating; papermaking; soap and
detergent; textile. For medical applications of technology,
see diagnosis; therapeutics; drug; medicine, history of; pharmaceutical
industry. For military applications, see military technology. For
treatment of the organization of technological systems,
see automation; engineering; production system; systems
engineering; work, history of the organization of.
amiliarity between Technology and Science

As they are completely different fields but they are interdependent on

each other. Also, it is due to science contribution we can create new
innovation and build new technological tools. Apart from that, the
research conducted in laboratories contributes a lot to the development
of technologies. On the other hand, technology extends the agenda of
science.

Vital Part of our Life

Regularly evolving technology has become an important part of our

lives. Also, newer technologies are taking the market by storm and the
people are getting used to them in no time. Above all, technological
advancement has led to the growth and development of nations.

Negative Aspect of Technology

Although technology is a good thing, everything has two sides.

Technology also has two sides one is good and the other is bad. Here
are some negative aspects of technology that we are going to discuss.

Pollution

With new technology the industrialization increases which give birth to

many pollutions like air, water, soil, and noise. Also, they cause many
health-related issues in animals, birds, and human beings.

Exhaustion of Natural Resources

New technology requires new resources for which the balance is

disturbed. Eventually, this will lead to over-exploitation of natural
resources which ultimately disturbs the balance of nature.

Unemployment
A single machine can replace many workers. Also, machines can do
work at a constant pace for several hours or days without stopping. Due
to this, many workers lost their job which ultimately
increases unemployment.

Types of Technology

Generally, we judge technology on the same scale but in reality,

technology is divided into various types. This includes information
technology, industrial technology, architectural technology, creative
technology and many more. Let’s discuss these technologies in brief.

Industrial Technology

This technology organizes engineering and manufacturing technology

for the manufacturing of machines. Also, this makes the production
process easier and convenient.

Creative Technology

This process includes art, advertising, and product design which are
made with the help of software. Also, it comprises of 3D printers,
virtual reality, computer graphics, and other wearable technologies.

Information Technology

This technology involves the use of telecommunication and computer to

send, receive and store information. Internet is the best example of
Information technology.

Globalization

Globalization, comprehensive term for the emergence of a global society in which economic,
political, environmental, and cultural events in one part of the world quickly come to have
significance for people in other parts of the world. Globalization is the result of advances in
communication, transportation, and information technologies. It describes the growing
economic, political, technological, and cultural linkages that connect individuals,
communities, businesses, and governments around the world. Globalization also involves
the growth of multinational corporations (businesses that have operations or investments in
many countries) and transnational corporations (businesses that see themselves functioning
in a global marketplace). The international institutions that oversee world trade and finance
play an increasingly important role in this era of globalization.

Although most people continue to live as citizens of a single nation, they are culturally,
materially, and psychologically engaged with the lives of people in other countries as never
before. Distant events often have an immediate and significant impact, blurring the
boundaries of our personal worlds. Items common to our everyday lives—such as the
clothes we wear, the food we eat, and the cars we drive—are the products of globalization.
Globalization has both negative and positive aspects. Among the negative aspects are the
rapid spread of diseases, illicit drugs, crime, terrorism, and uncontrolled migration. Among
globalization’s benefits are a sharing of basic knowledge, technology, investments,
resources, and ethical values.
The most dramatic evidence of globalization is the increase in trade and the movement of
capital (stocks, bonds, currencies, and other investments). From 1950 to 2001 the volume
of world exports rose by 20 times. By 2001 world trade amounted to a quarter of all the
goods and services produced in the world. As for capital, in the early 1970s only $10 billion
to $20 billion in national currencies were exchanged daily. By the early part of the 21st
century more than $1.5 trillion worth of yen, euros, dollars, and other currencies were
traded daily to support the expanded levels of trade and investment. Large volumes of
currency trades were also made as investors speculated on whether the value of particular
currencies might go up or down.

II-REASONS FOR GLOBALIZATION:

Most experts attribute globalization to improvements in communication, transportation, and

information technologies. For example, not only currencies, but also stocks, bonds, and
other financial assets can be traded around the clock and around the world due to
innovations in communication and information processing. A three-minute telephone call
from New York City to London in 1930 cost more than $300 (in year 2000 prices), making
instant communication very expensive. Today the cost is insignificant.
Advances in communication and information technologies have helped slash the cost of
processing business orders by well over 90 percent. Using a computer to do banking on the
Internet, for example, costs the banking industry pennies per transaction instead of dollars
by traditional methods. Over the last third of the 20th century the real cost of computer
processing power fell by 35 percent on average each year. Vast amounts of information can
be processed, shared, and stored on a disk or a computer chip, and the cost is continually
declining. People can be almost anywhere and remain in instant communication with their
employers, customers, or families 24 hours a day, 7 days a week, or 24/7 as it has come to
be known. When people in the United States call a helpline or make an airline reservation,
they may be connected to someone in Mumbai (Bombay), India, who has been trained to
speak English with an American accent. Other English speakers around the world prepare
tax returns for U.S. companies, evaluate insurance claims, and attempt to collect overdue
bills by telephone from thousands of kilometers and a number of time zones away.
Advances in communications instantly unite people around the globe. For example,
communications satellites allow global television broadcasts to bring news of faraway
events, such as wars and national disasters as well as sports and other forms of
entertainment. The Internet, the cell phone, and the fax machine permit instantaneous
communication. The World Wide Web and computers that store vast amounts of data allow
instant access to information exceeding that of any library.

Improvements in transportation are also part of globalization. The world becomes smaller
due to next-day delivery by jet airplane. Even slow, oceangoing vessels have streamlined
transportation and lowered costs due to innovations such as containerized shipping.

Advances in transportation have allowed U.S. corporations to subcontract manufacturing to

foreign factories. For example, in the early 2000s the Guadalajara, Mexico, factory of
Flextronic International made pocket computers, Web-connected TVs, computer printers,
and even high-tech blood-glucose monitors, for a variety of U.S. firms. Low transportation
costs enabled Flextronic to ship these products around the world, and the North American
Free Trade Agreement (NAFTA) made the Mexico location more attractive to Flextronic.
Advances in information technologies have also lowered business costs. The global
corporation Cisco Systems, for example, is one of the world’s largest companies as
measured by its stock market value. Yet Cisco owns only three factories to make the
equipment used to help maintain the Internet. Cisco subcontracts the rest of its work to
other companies around the world. Information platforms, such as the World Wide Web,
enable Cisco’s subcontractors to bid for business on Cisco’s Web site where auctions take
place and where suppliers and customers stay in constant contact.

The lowering of costs that has enabled U.S. companies to locate abroad has also made it
easier for foreign producers to locate in the United States. Two-thirds of the automobiles
sold in North America by Japan’s Toyota Motor Company are built in North America, many in
Kentucky and in seven other states. Michelin, the French corporate giant, produces tires in
South Carolina where the German car company BMW also manufactures cars for the North
American market.
Not only do goods, money, and information move great distances quickly, but also more
people are moving great distances as well. Migration, both legal and illegal, is a major
feature of this era of globalization. Remittances (money sent home by workers to their
home countries) have become an important source of income for many countries. In the
case of El Salvador, for example, remittances are equal to 13 percent of the country’s total
national income—a more significant source of income than foreign aid, investment, or
tourism.

III-THE INSTITUTIONS OF GLOBALIZATION:

Three key institutions helped shape the current era of globalization: the International
Monetary Fund (IMF), the World Bank, and the World Trade Organization (WTO). All three
institutions trace their origins to the end of World War II (1939-1945) when the United
States and the United Kingdom decided to set up new institutions and rules for the global
economy. At the Bretton Woods Conference in New Hampshire in 1944, they and other
countries created the IMF to help stabilize currency markets. They also established what
was then called the International Bank for Reconstruction and Development (IBRD) to help
finance the rebuilding of Europe after the war.