Globalization is not a recent phenomenon; it began in the 1870s when international trade and investment expanded to sell mass-produced products worldwide, driven by technologies such as steam engines and electricity. The peak of globalization occurred in 2019, just before the COVID-19 pandemic outbreak. The economy advances primarily through improvements in productivity. The technological advancements mentioned have significantly influenced this productivity growth. For example, a smartphone, which combines the functionality of a computer with that of a mobile device, exemplifies technological progress that has brought convenience to mankind. However, smartphone technology and network effects haven’t contributed to the expected boost in human productivity. Technology can be categorized into those that enhance productivity and those that do not. Although today’s technology development exceeds that of the past, it doesn’t automatically lead to greater productivity. To build wealth, incre...
Antibiotics are agents that eliminate bacteria. Since bacteria are living organisms, they can develop resistance when individuals misuse antibiotics, resulting in so-called “resistance.” Consequently, antibiotics are not always effective against bacteria. The widespread use of antibiotics can diminish the chances of treating future patients by fostering bacterial resistance. Therefore, pharmaceutical companies that produce antibiotics establish ethical guidelines for fair market competition. It is advisable to administer one antibiotic to target a specific bacterium. However, developing a new antibiotic and achieving profitability typically takes about 20 years, presenting a daunting challenge. Additionally, some individuals aggressively market health supplements, often disregarding ethical considerations. Those involved in health and wellness must exercise great care. - Joseph’s “just my thoughts”