How Does Science Effect Our Economy In A Positive Way?


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Monica Stott answered
There are often stories in the media describing how science affects the economy in a negative way, but it should also be recognized that it can have a massively positive impact on the economy too. If a company remains aware of scientific breakthroughs, they can be a step ahead and use any developments to their advantage.
Amazing scientific developments in technology have recently led to the majority of people in the developed world having access to the Internet. This has changed our economy as more people trade and spend online. Many countries with stronger currencies than the US will also buy products online from America as it works out cheaper for them. This is a boost to the US economy as the more people who buy from the US, the better.
Eventually, the UK economy is thought to benefit from climate change. As parts of the Mediterranean become increasingly warmer, the summers will be uncomfortably warm, encouraging people to take their vacations in cooler countries such as the UK where the temperature will be more tolerable. This boost in tourism will help the UK economy enormously.

It will also mean that more people will wish to immigrate to the UK, meaning the UK can become more selective during the immigration process, only accepting people will specialist skills which will help the economy.

It is also thought that global warming will reduce the amount of hurricanes in the US which will help the whole economy as the need to invest huge amounts of money in hurricane safe buildings and cleaning up after a hurricane will decline.

It is important for countries to remain aware of these scientific discoveries to ensure they use it to their advantage. Countries that are getting warmer for example should be aware of the fact they will soon be able to grown a larger variety of fruit and vegetables which can help the economy massively. Products which were once only available through importation will soon be available from within the country.

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