Robot

I like to look at the microwave oven in our kitchen as a robot. Microwaves "prepare" meals for people (even though it's only just heating/defrosting). As the technology improves, however, these ovens will play a bigger role in people's lives, especially old people living on their own. One country with a lot of old people is Japan.

According to this report, the population of Japan stood at 127 million in 2004. By 2050, Japan's population will drop to 100 million.

An ageing population, according to Joseph Schumpeter, is a symptom of capitalism's success. As a counterblast to this graying population, countries encourage immigration, such as Germany and Scotland; others are not so keen on the idea of opening up their borders to "foreigners," like Japan. Robots are seen as an alternative.

I think we'll be hearing a lot more about Joseph Schumpeter in future as more and more economists accept his main thesis, that the entrepreneur, and economic innovation along with him, is a dying breed.

innovation, innovation management, China, Taiwan