Economic Development should be guided by Maslow Need Ladder and Emerging Technologies

     The Economy, Technology available, and the fulfillment of people's Needs are tightly coupled. Economic development is measured in terms of GDP. The economy has several sectors and each sector grows at a certain (distinct) rate so that the GDP grows at a certain pace. Subject to the technology available and applied, sectoral growth varies. While the production sector satisfies people's Needs, it also creates jobs, which give money for people to afford the goods and services produced in the various sectors. The elasticity of demand is lower for the lower level Needs than that for the higher level Needs. (People may have two or three meals a day but cannot eat several times more. On the other hand, they can enjoy higher level needs much more.)
     Advanced technology increases productivity and reduces jobs available for humans, especially in satisfying lower level Needs with goods and services. Hence, people have to gain greater knowledge and higher level skills to move into the production sectors that satisfy higher level Needs.
     Some leaders in planning and technology can be naive in thinking that people will be contented and be happy when their (lower level) physiological Needs are satisfied. This has been causing problems in the society. As those Needs are satisfied, they have been demanding to move up. Leaders have not thought of preparing the people to be able to produce goods and services that satisfy the higher level needs. They failed to impart higher education and skills and to build the systems to produce those higher level goods and services.
     It is surprising to notice that some high technology institutes are still running programs to equip rural and tribal people and their communities with old technical capabilities. These people have seen the advanced technology lifestyle and they also want it. They are demanding it for their children vociferously.

     Please view the short presentation.