Half Full or Half Empty?

Are you a techno-optimist or pessimist?

Some folks think that new technology is leading us towards a bright, shining future. They look at the new smartphone apps and medical sensors and see that new technology allows us to live longer, more productive lives. Others look at manufacturing robots and factory farms and just see displaced workers and environmental degradation. Which is it?

It’s unquestionably true that for the past 250 years technology has improved our lives. People are wealthier and healthier and live longer; about a billion people now live better than medieval kings and queens used to. And it’s not just material well-being: Broadwood’s 1780 piano was a huge improvement on the original, but was only made possible by the industrial revolution.

But progress has its price. Rising wealth means rising inequality; email correspondence allows for NSA surveillance. Technology solves problems, but typically creates new issues in the process. The history of technology can be seen as a sequence of unintended consequences.

Technology isn’t a savior, but it’s not a scapegoat, either. It just is.

Douglas R. Tengdin, CFA

Chief Investment Officer

By | 2017-07-17T12:34:38+00:00 August 1st, 2013|Global Market Update|0 Comments

About the Author:

Mr. Tengdin is the Chief Investment Officer at Charter Trust Company and author of “The Global Market Update”. The audio version of each post can be heard on radio stations throughout New England every weekday. Mr. Tengdin graduated from Dartmouth College, Magna Cum Laude. He received his Master of Arts from Trinity Divinity School, Magna Cum Laude and received his Chartered Financial Analyst (CFA) designation in 1992. Mr. Tengdin has been managing investment portfolios for over 30 years, working for Bank of Boston, State Street Global Advisors, Citibank – Tunisia, and Banknorth Group. Throughout his career, Mr. Tengdin has emphasized helping clients manage their financial risks in difficult environments where they can profit from investing in diverse assets in diverse settings. –
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