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Example text

S. dollars at 1953 prices, P =population in millions. From this equation it can be concluded that the income elasticity of industrial output is about 1·37, which means that, assuming constant population, the value added of total industry increases 37 per cent more than proportionately with per capita income. The population elasticity for total manufacturing is about 1·12, which means that, assuming constant per capita income, the value added of total industry increases 12 per cent more than proportionately with population size.

Hence, energy conversion itself is already, and will be in the future, largely promoted by the development of information conversion. To summarize, in speaking of technological advance in 1964, one has primarily to fix his eyes on the class of information converters which, apart from being an advance in themselves, promote the efficient use of the class of energy converters. DANGERS INHERENT IN INFORMATION CONVERSION In what way can technological developments be regarded as an advance in the sense given to this concept in the opening paragraph ?

The development of all kinds and types of energy and information converters pushes the human being into a position where his activities are either: (a) essential to the development and important to the application of new equipment; or (b) directly necessary to the control of equipment, or indirectly required to stimulate the use of the new converters. With regard to the first category, those relatively few people working on the real development and on the sophisticated application of the new classes of converters stand to gain.

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