Deepavali Greetings! May Lakshmi, the goddess of wealth, be a welcome visitor to your home and workplace.
Technology, in economics jargon, expands the production possibilities frontier (PPF). In simpler terms, you get more stuff by using technology by using resources more efficiently. Which in turn means that you have less waste produced as a by-product of the production of useful stuff.
A recent column by Gurcharan Das titled “Let Biotech Crops Bloom” notes how the introduction of transgenic cotton has doubled India’s cotton production in the last five years and is second largest cotton producing country (after China.) He laments the fact that Indian farmers don’t have access to transgenic rice, soya, corn, etc, because they have not been approved. He puts the blame on “misguided activists, timid bureaucrats, and apathetic politicians.”