THE RIPPLE EFFECT OF TECHNOLOGY ON SOCIETY
Economists assert that modern GDP is driven by Info, Comm, Tech (ICT) spending. Studies of domestic growth of former Newly Industrial Countries (NIC) Singapore, So Korea, Hong Kong, and Malaysia over the period of 1990 - 2007 correlate the benefits of ICT investment in these meteoric economies. This implies that the new NICs in Africa and Latin America MUST commit to national ICT policy and investments to accelerate their GDP and economies.
Signficantly, ICT spending benefits were also correlated to renewed economic growth and better quality of life for greying populations of the G8 and O5.
The Impact of ICT Investment on Economic Growth in Newly Industrialized Countries in Asia.
Australian Journal of Basic and Applied Sciences (Sept 2011)