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Technology (from Greek τέχνη, techne, "art, skill, cunning of hand"; and -λογία, -logia) refers to the collection of tools, including machinery, modifications, arrangements and procedures used by humans. Engineering is the discipline that seeks to study and design new technologies. Technologies significantly affect human as well as other animal species' ability to control and adapt to their natural environments. The term can either be applied generally or to specific areas: examples include construction technology, medical technology and information technology.
The human species' use of technology began with the conversion of natural resources into simple tools. The prehistoric discovery of how to control fire increased the available sources of food and the invention of the wheel helped humans in travelling in and controlling their environment. Recent technological developments, including the printing press, the telephone, and the Internet, have lessened physical barriers to communication and allowed humans to interact freely on a global scale. However, not all technology has been used for peaceful purposes; the development of weapons of ever-increasing destructive power has progressed throughout history, from clubs to nuclear weapons. Technology has affected society and its surroundings in a number of ways. In many societies, technology has helped develop more advanced economies (including today's global economy) and has allowed the rise of a leisure class. Many technological processes produce unwanted by-products, known as pollution, and deplete natural resources, to the detriment of Earth's environment. Various implementations of technology influence the values of a society and new technology often raises new ethical questions. Examples include the rise of the notion of efficiency in terms of human productivity, a term originally applied only to machines, and the challenge of traditional norms. Philosophical debates have arisen over the present and future use of technology in society, with disagreements over whether technology improves the human condition or worsens it. |
Neo-Luddism, anarcho-primitivism, and similar movements criticise the pervasiveness of technology in the modern world, opining that it harms the environment and alienates people; proponents of ideologies such as transhumanism and techno-progressivism view continued technological progress as beneficial to society and the human condition. Indeed, until recently, it was believed that the development of technology was restricted only to human beings, but recent scientific studies indicate that other primates and certain dolphin communities have developed simple tools and learned to pass their knowledge to other generations.
The use of the term "technology" has changed significantly over the last 200 years. Before the 20th century, the term was uncommon in English, and usually referred to the description or study of the useful arts. The term was often connected to technical education, as in the Massachusetts Institute of Technology (chartered in 1861). The term "technology" rose to prominence in the 20th century in connection with the Second Industrial Revolution. The term's meanings changed in the early 20th century when American social scientists, beginning with Thorstein Veblen, translated ideas from the German concept of Technik into "technology". In German and other European languages, a distinction exists between technik and technologie that is absent in English, which usually translates both terms as "technology". By the 1930s, "technology" referred not only to the study of the industrial arts but to the industrial arts themselves Thomas P. Hughes pointed out that because technology has been considered as a key way to solve problems, we need to be aware of its complex and varied characters to use it more efficiently. What is the difference between a wheel or a compass and cooking machines such as an oven or a gas stove? Can we consider all of them, only a part of them or none of them as technologies? |
Technology is often considered too narrowly: according to Thomas P. Hughes "Technology is a creative process involving human ingenuity”. This definition emphasizing on creativity avoids unbounded definition that may mistakenly include cooking “technologies”. But it also highlights the prominent role of humans and therefore their responsibilities for the use of complex technological systems.
Yet, because technology is everywhere and has dramatically changed landscapes and societies, Hughes argued that engineers, scientists, and managers often have believed that they can use technology to shape the world as they want. They have often supposed that technology is easily controllable and this assumption has to be thoroughly questioned. For instance, Evgeny Morozov particularly challenges two concepts: “Internet-centrism” and “solutionism”. Internet-centrism refers to the idea that our society is convinced that the Internet is one of the most stable and coherent forces. Solutionism is the ideology that every social issue can be solved thanks to technology and especially thanks to the internet. In fact, technology intrinsically contains uncertainties and limitations. According to Alexis Madrigal's critique of Morozov's theory, to ignore it will lead to “unexpected consequences that could eventually cause more damage than the problems they seek to address”. Benjamin Cohen and Gwen Ottinger precisely discussed the multivalent effects of technology. Therefore, recognition of the limitations of technology and more broadly scientific knowledge is needed — especially in cases dealing with environmental justice and health issues. Gwen Ottinger continues this reasoning and argues that the ongoing recognition of the limitations of scientific knowledge goes hand in hand with scientists and engineers’ new comprehension of their role. Such an approach of technology and science "[require] technical professionals to conceive of their roles in the process differently. [They have to consider themselves as] collaborators in research and problem solving rather than simply providers of information and technical solutions". |
The economy of Singapore is a highly developed free-market economy. Singapore's economy has been ranked as the most open in the world, 7th least corrupt, most pro-business, with low tax rates (14.2% of Gross Domestic Product, GDP) and has the third highest per-capita GDP in the world in terms of Purchasing Power Parity (PPP). APEC is headquartered in Singapore.
Government-linked companies play a substantial role in Singapore's economy. Sovereign wealth fund Temasek Holdings holds majority stakes in several of the nation's largest companies, such as Singapore Airlines, SingTel, ST Engineering and MediaCorp. The Singaporean economy is a major Foreign Direct Investment (FDI) outflow financier in the world. Singapore has also benefited from the inward flow of FDI from global investors and institutions due to its highly attractive investment climate and a stable political environment.
Exports, particularly in electronics, chemicals and services including Singapore's position as the regional hub for wealth management provide the main source of revenue for the economy, which allows it to purchase natural resources and raw goods which it lacks. Moreover, water is scarce in Singapore therefore it is defined as a precious resource along with the scarcity of land to be treated with land fill of Pulau Semakau. Singapore has limited arable land, meaning that Singapore has to rely on the agrotechnology park for agricultural production and consumption. Human resources is another vital issue for the health of the Singaporean economy. The economy of Singapore ranks 2nd overall in the Scientific American Biotechnology ranking in 2014, with the featuring of Biopolis.
Singapore could thus be said to rely on an extended concept of intermediary trade to entrepôt trade, by purchasing raw goods and refining them for re-export, such as in the wafer fabrication industry and oil refining. Singapore also has a strategic port which makes it more competitive than many of its neighbours in carrying out such entrepot activities. Singapore's trade to GDP ratio is among the highest in the world, averaging around 400% during 2008–11. The Port of Singapore is the second-busiest in the world by cargo tonnage.
To preserve its international standing and further its economic prosperity in the 21st century, Singapore has taken measures to promote innovation, encourage entrepreneurship and re-train its workforce. The Ministry of Manpower (Singapore) (MoM) is primarily responsible for setting, adjusting, and enforcing foreign worker immigration rules. There are approximately 243,000 Foreign Domestic Workers (FDWs) in Singapore.
The public sector is used both as an investor and as a catalyst for economic development and innovation. The government of Singapore has two sovereign wealth funds, Temasek Holdings and GIC Private Limited, which are used to manage the country's reserves. Initially the state's role was oriented more toward managing industries for economic development, but in recent decades the objectives of Singapore's sovereign wealth funds have shifted to a commercial basis.
Government-linked corporations play a substantial role in Singapore's domestic economy. As of November 2011, the top six Singapore-listed GLCs accounted for about 17 percent of total capitalization of the Singapore Exchange (SGX). These fully and partially state-owned enterprises operate on a commercial basis and are granted no competitive advantage over privately owned enterprises. State ownership is prominent in strategic sectors of the economy, including telecommunications, media, public transportation, defence, port, airport operations as well as banking, shipping, airline, infrastructure and real estate.
As of 2014, Temasek holds S$69 billion of assets in Singapore, accounting for 7% of the total capitalization of Singapore-listed companies
To maintain its competitive position despite rising wages, the government seeks to promote higher value-added activities in the manufacturing and services sectors. It also has opened, or is in the process of opening, the financial services, telecommunications, and power generation and retailing sectors up to foreign service providers and greater competition. The government has also attempted some measures including wage restraint measures and release of unused buildings in an effort to control rising commercial rents with the view to lowering the cost of doing business in Singapore when central business district office rents tripled in 2006.
Government-linked companies play a substantial role in Singapore's economy. Sovereign wealth fund Temasek Holdings holds majority stakes in several of the nation's largest companies, such as Singapore Airlines, SingTel, ST Engineering and MediaCorp. The Singaporean economy is a major Foreign Direct Investment (FDI) outflow financier in the world. Singapore has also benefited from the inward flow of FDI from global investors and institutions due to its highly attractive investment climate and a stable political environment.
Exports, particularly in electronics, chemicals and services including Singapore's position as the regional hub for wealth management provide the main source of revenue for the economy, which allows it to purchase natural resources and raw goods which it lacks. Moreover, water is scarce in Singapore therefore it is defined as a precious resource along with the scarcity of land to be treated with land fill of Pulau Semakau. Singapore has limited arable land, meaning that Singapore has to rely on the agrotechnology park for agricultural production and consumption. Human resources is another vital issue for the health of the Singaporean economy. The economy of Singapore ranks 2nd overall in the Scientific American Biotechnology ranking in 2014, with the featuring of Biopolis.
Singapore could thus be said to rely on an extended concept of intermediary trade to entrepôt trade, by purchasing raw goods and refining them for re-export, such as in the wafer fabrication industry and oil refining. Singapore also has a strategic port which makes it more competitive than many of its neighbours in carrying out such entrepot activities. Singapore's trade to GDP ratio is among the highest in the world, averaging around 400% during 2008–11. The Port of Singapore is the second-busiest in the world by cargo tonnage.
To preserve its international standing and further its economic prosperity in the 21st century, Singapore has taken measures to promote innovation, encourage entrepreneurship and re-train its workforce. The Ministry of Manpower (Singapore) (MoM) is primarily responsible for setting, adjusting, and enforcing foreign worker immigration rules. There are approximately 243,000 Foreign Domestic Workers (FDWs) in Singapore.
The public sector is used both as an investor and as a catalyst for economic development and innovation. The government of Singapore has two sovereign wealth funds, Temasek Holdings and GIC Private Limited, which are used to manage the country's reserves. Initially the state's role was oriented more toward managing industries for economic development, but in recent decades the objectives of Singapore's sovereign wealth funds have shifted to a commercial basis.
Government-linked corporations play a substantial role in Singapore's domestic economy. As of November 2011, the top six Singapore-listed GLCs accounted for about 17 percent of total capitalization of the Singapore Exchange (SGX). These fully and partially state-owned enterprises operate on a commercial basis and are granted no competitive advantage over privately owned enterprises. State ownership is prominent in strategic sectors of the economy, including telecommunications, media, public transportation, defence, port, airport operations as well as banking, shipping, airline, infrastructure and real estate.
As of 2014, Temasek holds S$69 billion of assets in Singapore, accounting for 7% of the total capitalization of Singapore-listed companies
To maintain its competitive position despite rising wages, the government seeks to promote higher value-added activities in the manufacturing and services sectors. It also has opened, or is in the process of opening, the financial services, telecommunications, and power generation and retailing sectors up to foreign service providers and greater competition. The government has also attempted some measures including wage restraint measures and release of unused buildings in an effort to control rising commercial rents with the view to lowering the cost of doing business in Singapore when central business district office rents tripled in 2006.
Singapore is considered a global financial hub, with Singapore banks offering world-class corporate bank account facilities. In the 2017 Global Financial Centres Index, Singapore was ranked as having the third most competitive financial centre in the world after London and New York City (and alongside cities such as Hong Kong, Tokyo, San Francisco, Chicago, Sydney, Boston, and Toronto). These include multiple currencies, internet banking, telephone banking, checking accounts, savings accounts, debit and credit cards, fixed term deposits and wealth management services. According to the Human Rights Watch, due to its role as a financial hub for the region, Singapore has continually been criticised for reportedly hosting bank accounts containing ill-gotten gains of corrupt leaders and their associates, including billions of dollars of Burma's state gas revenues hidden from national accounts. Singapore has attracted assets formerly held in Swiss banks for several reasons, including new taxes imposed on Swiss accounts and a weakening of Swiss bank secrecy. Credit Suisse, the second largest Swiss bank, moved its head of international private banking to Singapore in 2005.
Tax evasion is illegal in Singapore; however, according to an Organisation for Economic Co-operation and Development official, Singaporean authorities tend to cooperate with other countries' tax authorities only when evasion of Singaporean taxes is involved
Singapore is aggressively promoting and developing its biotechnology industry. Hundred of millions of dollars were invested into the sector to build up infrastructure, fund research and development and to recruit top international scientists to Singapore. Leading drug makers, such as GlaxoSmithKline (GSK), Pfizer and Merck & Co., have set up plants in Singapore. On 8 June 2006, GSK announced that it is investing another S$300 million to build another plant to produce paediatric vaccines, its first such facility in Asia. Pharmaceuticals now account for more than 8% of the country's manufacturing production.
Singapore is the pricing centre and leading oil trading hub in Asia. The oil industry makes up 5 per cent of Singapore's GDP, with Singapore being one of the top three export refining centres in the world. In 2007 it exported 68.1 million tonnes of oil. The oil industry has led to the promotion of the chemical industry as well as oil and gas equipment manufacturing. Singapore has 70 per cent of the world market for both jack-up rigs and for the conversion of Floating Production Storage Offloading units. It has 20 per cent of the world market for ship repair, and in 2008 the marine and offshore industry employed almost 70,000 workers.
Tax evasion is illegal in Singapore; however, according to an Organisation for Economic Co-operation and Development official, Singaporean authorities tend to cooperate with other countries' tax authorities only when evasion of Singaporean taxes is involved
Singapore is aggressively promoting and developing its biotechnology industry. Hundred of millions of dollars were invested into the sector to build up infrastructure, fund research and development and to recruit top international scientists to Singapore. Leading drug makers, such as GlaxoSmithKline (GSK), Pfizer and Merck & Co., have set up plants in Singapore. On 8 June 2006, GSK announced that it is investing another S$300 million to build another plant to produce paediatric vaccines, its first such facility in Asia. Pharmaceuticals now account for more than 8% of the country's manufacturing production.
Singapore is the pricing centre and leading oil trading hub in Asia. The oil industry makes up 5 per cent of Singapore's GDP, with Singapore being one of the top three export refining centres in the world. In 2007 it exported 68.1 million tonnes of oil. The oil industry has led to the promotion of the chemical industry as well as oil and gas equipment manufacturing. Singapore has 70 per cent of the world market for both jack-up rigs and for the conversion of Floating Production Storage Offloading units. It has 20 per cent of the world market for ship repair, and in 2008 the marine and offshore industry employed almost 70,000 workers.