Here is a YouTube video showing a researcher working with an Oculus Rift and Three Microsoft Kinects. Even this simple setup looks amazing!
I’ve been reading the “Beyond Scarcity” series on FTAlphaville recently, and it’s made some very interesting points. The posts argue that the current economic environment is deflationary with regard to goods. I think that is true, and one of the reasons is because of technology. Firstly technology is constantly making everything more efficient and because of global competition this is both reducing the production costs and making goods cheaper. Secondly technology is causing structural unemployment, which means less people have money to spend and there is less money flowing around the economy. Other factors causing deflation are the tight monetary conditions, the aging population, and potentially the effects of quantitative easing.
There is an interesting clip over on YouTube, that shows what having Google Glass (or something similar) might someday be like.
There is an interesting post over at pieria.co.uk called “The Financialisation of Labour”. Frances Coppola compares the changing economic incentives between a company making a capital investment in a slave and an employee. She then suggests replacing the word “slave” with the word “robot”.
Jon Perry has written an interesting post listing some strategies for dealing with the Technological Unemployment Problem.
The Technological Unemployment Problem is the issue of technology replacing humans to the point that there is massive unemployment.
Today my TI EZ430 Chronos Watch arrived, and I spent a little bit of time hacking it on my MacBook Air. It turns out that even though the documentation seems to require either a Windows machine or a Linux box, you can communicate with the watch from the Mac by modifying the serial port information in the TCL source. I learnt this from a Google Groups post, and I’ve copied the modified TCL source onto my Github account.
I just finished reading the Kindle book Race Against The Machine, a book I thoroughly recommend. This was the driver of the NPR article I blogged about recently.
The book is mostly oriented towards the US, although the issues they discuss seem to be prevalent across all major economies. The authors make the case that technological improvements are severely impacting every job market except those for highly-skilled individuals.
Over at EconBrowser, James talks about Geography and Income. He talks about the question of how much economic activity is dependent on geographic location. When you look at a map of GDP density – GDP per square kilometre – it’s fairly obvious that the bulk of economic activity in densely populated areas which are near coastal regions.
Are the American people obsolete? Salon argues that because of globalisation and technology there is now a increased separation between capital and labour. The activities that generate wealth have both been outsourced to cheaper shores, and become more efficient because of technology. As a consequence the social contract in Western society between rich and poor – the rich provide the capital while the poor provide the labour – is breaking down. The rich still have capital, but they can now move the production of goods to the East, creating a shortage of jobs in the West.