The Second Machine Age

　　MIT Sloan members Erik Brynjolfsson and Andrew McAfee wrote a book called ”The Second Machine Age.” It is the sequel to their previous work, “Race Against the Machine.” It optimistically discusses whether humans can coexist with machines.  　 　　“Chapter 8: Beyond GDP” is particularly important. Through the Internet things have become convenient, fun, and efficient; but that is not reflected in GDP. The book states that economic views which focus on GDP cannot analyze the current situation. The chapter has seven main points. Point 1          Due...

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What of the Economists Who Damaged the World?

In “Seven Bad Ideas: How Mainstream Economists Have Damaged America and the World,” New York Times economic analyst Jeff Madrick cuts economics down. He says classical economists are the criminals of the 2008 financial crisis and the following major recession. The book invokes Milton Friedman’s principle of laissez-faire from a Keynesian point of view.        It obstinately repudiates Adam Smith, Alfred Marshall, Léon Walras, Vilfredo Pareto, David Ricardo, John Stuart Mill, Milton Friedman, Paul Samuelson,...

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The New Outlook for TV and IT

 　The broadcasting business world released a report entitled, “The Potential for Information Technology to Completely Change the Face of Broadcasting.” 　------------------------------ 　 The concept of fusing broadcasting and communications was discussed over 20 years ago. Ten years ago, the IT business wanted broadcasting stations, which was a surprise. But there was no great movement. Broadcasting stations holds the twin strengths of an abundance of programs and reliable radio waves. Thus, those in the broadcasting world basically felt...

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