Answer to Question #290490 in English for ciaa

Question

as a young empowered and globally competitive individual, craft your speech by observing the proper use of speech context, speech act, and communicative strategies in sharing or expressing your ideas on how to make the communication more efficient in integrating the use of ICT in different social and humanitarian uses.

Answer 1

The development of Information and Communication Technologies (ICT) has strong potential to transform economies and societies in several ways, such as reducing information and transaction costs, creating new collaborative models 

to increase the efficiency of workers, promoting innovation, and improving education and access to basic services. 

Innovation seems to be everywhere in the lives of consumers, in industry and service production processes, as well as 

in public sector tasks. However, while we observe dramatic changes in people's lives, it is difficult to find any effect in 

productivity statistics. The same happened when computers were brought into society massively and this phenomenon, known as the Solow 

Paradox (1987), had already been observed in the boost from information technology.

Researchers argue about why macroeconomic statistics are not showing increases in productivity that point to a new 

industrial revolution. Our hypothesis is that the effects of the current revolution on the economy might be reflected 

more on the demand-side rather than the supply-side. In addition to the arguments of mismeasurement of GDP 

growth and weak investment since the financial crisis, the impact of the digital economy is hard to measure using 

traditional indicators from the supply-side, such as productivity growth. Most of the welfare gain from digital services 

on the internet is overlooked by traditional approaches, which only rely on monetary expenditure. The current system 

of GDP accounting has rigidities when it comes to free services. If a service lacks a price, then there is no standard 

way to estimate its worth in terms of money. However, consequences associated with ICT affect not only the 

productivity of individuals as workers (labour suppliers), but also as consumers by changing their welfare levels (i.e. 

demand for goods and services and quality of life). With smartphones and free apps everywhere, there are so many services.