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Technology Bank

Weekly Wire: The Global Forum

Roxanne Bauer's picture
 
These are some of the views and reports relevant to our readers that caught our attention this week.


Facebook’s Gateway Drug
The New York Times
SILICON VALLEY was once content to dominate the tech world. But recently, its leading companies have ventured deep into areas well outside its traditional bailiwick, most notably international development — promising to transform a field once dominated by national governments and international institutions into a permanent playground of hackathons and app-fueled disruption.  To observe this venture humanitarianism in action, look no further than Internet.org, a coalition of Facebook, Samsung and several other large tech companies that promises to bring low-cost Internet access to people in underserviced parts of the world, via smartphones. 

New World Order, Labor, Capital, and Ideas in the Power Law Economy
Foreign Affairs
Recent advances in technology have created an increasingly unified global marketplace for labor and capital. The ability of both to flow to their highest-value uses, regardless of their location, is equalizing their prices across the globe. In recent years, this broad factor-price equalization has benefited nations with abundant low-cost labor and those with access to cheap capital. Some have argued that the current era of rapid technological progress serves labor, and some have argued that it serves capital. What both camps have slighted is the fact that technology is not only integrating existing sources of labor and capital but also creating new ones.