Tuesday 26 July 2016

"Doom cycle" takes place everywhere

Doom cycle is often used to explain the negative effect of central bank regulations that more regulations will be made to correct the system due to the increased complexity caused by the previous regulations. Such phenomena could happen to all fields and such cycle could be seen as the engine of our society and economy optimistically. Because any new facts added into our society and economy, our society and economy become more complex and require even more supporting elements. This generates our invention and innovation. However, when we are entering into more fields, the speed of invention and innovation in one field becomes slower due to the constraints of our abilities and resources. Therefore, when our society, technology and economy are growing, we could see a slower speed of invention and innovation, but the invention and innovation are taking place in much more fields at the same time.

No comments:

Post a Comment