All over the world, journalism is under attack for spreading false stories. Even Pope Francis has warned us about this increasingly dangerous phenomenon. The problem is that social media has blurred the definition of journalism. Any blogger or twitter user can suddenly have an audience of thousands at the “ tip of their fingers.” All of these events are happening in the midst of social and political changes that are on the border of being revolutionary.
The world may be going through a revolution of such a magnitude that future historians will give it a label like the Industrial Revolution. We are the beginning of what will be someday compared to either the Dark Ages, the Medieval Age or hopefully another Golden Age like the Renaissance. What does this mean for people who want to understand what is happening?
This means that many of the old theories are gone. Many of the frameworks that have guided our decision making have become obsolete. Consider a few events that are happening that seem inexplicable. In Sweden, technology has become a part of their day to day life that only 2% of all transactions are still in cash. Yet, in the same continent, people are willing to commit suicide and create havoc in the name of a religion.
It is beginning to be more difficult to distinguish facts from theories as any social media user can simply send out opinions in the form of facts. The only recourse for those who truly want to understand what is happening in the world today is for that person to start learning some essential facts in those areas of knowledge which will impact the world.
I know this is a daunting task for those who prefer to accept as facts what they hear from radio commentators or social media or even some favored columnist. Numbers do not always correspond to facts. For example, who really knows how many drug addicts and drug pushers there are in the Philippines or anywhere in the world?
I may be a “voice in the wilderness”; but, my advice for the really “curious mind” is to become knowledgeable about essential facts in certain areas of knowledge which will have major impact on the world and our daily lives in the coming few years. Let me begin, in this column, with a few subjects:
Economics?
I find it surprising, at times, that many businessmen, do not understand economics. This has made economists seem like the modern day wizards that can wave a magic wand and bring prosperity. But there are major differences in the viewpoints of even the most acclaimed economists.
Economics actually is a word derived from a Greek word which meant “ management of a household.” There are only four basic central issues addressed by economics:
• What to produce?
• How much to produce?
• How to produce?
• For whom to produce it?
These four questions lead to other concerns. But for the ordinary citizens, the main concern is determining who answer these questions.
The capitalists or the Right, in the political spectrum, believe that the private sector should make these decisions. It is believed that wealth could be amassed more quickly if the person with money (or capital) could be allowed to invest money in any enterprise with the objective of receiving more in return than what was initially invested. There is the “trickle down theory” which holds that as the rich get richer, some of their wealth will trickle down” and uplift the lives of the poor.
There is the opposite view that “trickle down” does not work and the government should make decisions regarding the four questions. In this way, it is the “common good” that will be addressed rather than the wants of a few. This is called Socialism or the Left in the political spectrum. However, experience shows that wealth will be amassed more slowly in a socialist economy.
These issues raise interesting questions. For example, in an economy with limited capital, who should decide whether those funds be spent building malls and condos or put into roads and schools?
Is there a Third Way or a middle ground? Economics will be a major social and political battleground in the next few years. It would be impossible to engage in this “war” unless one knows economics. Learn the basic facts and do not listen to theorists. Make your own decisions on what is right or wrong.
Technology
The classic definition of technology is the application of different crafts skills and aspects of applied science for the creation of tools people need for the maintenance and improvement of subsistence, work and pleasure.
Technology has always been a dominant factor in changing human history. That is why you need to understand more about it. For example, there is now a new technology called Robotics Process Automation (RPA) which is an emerging form of clerical process automation technology based on the notion of software robots or artificial intelligence workers. I have been told that this technology is only a few years away from being commercialized.
Some analysts believe that RPA represents a threat to the Business Process Outsourcing ( BPO) industry. It is supposed to eliminate jobs by automating low skilled or repetitive processes, like in activities in a call center, that are offshore. However, there are others who believe that this same technology will create more high value jobs, like skilled process designers within the supply chain of IT hardware and data center management. This is all going to happen before the end of the decade.
Technology has changed economies and daily lives. There will be a lot of stories and speculations about its effects including calls to control technology. It is important that we understand its real meaning before we listen to opinions and recommendations.
I will continue with other proposed topic areas of knowledge, like Law, Religion and Film, in my next column. In the meantime, start learning facts and stop believing opinions.
Email: elfrencruz@gmail.com