THE PRINTING PRESS, THE TELEPHONE, AND THE INTERNET: THEIR CONTRIBUTION TO THE GLOBAL ECONOMY

BRIEF HISTORY

The evolution of the Information Communication Technology (ICT) sector began with the invention of the printing press; a mechanical device used for reproducing text and images using a Master form or template. First developed by Johannes Gutenberg in 1439 as a modern movable printing press type, it immediately spread within several decades to over two hundred cities in a dozen European countries and came down East Africa, Nigeria in 1846 through Hope Waddel. Hope Waddel came as a Missionary to Calabar with his assistant; Samuel Edgerly. Together, they founded the first printing press in Nigeria which they named Hope Waddel Press and used majorly for the mass production of religious tracts and booklets.

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The evolution of the printing press was shortly followed by the invention of the telephone and subsequent development of the internet. The basis for the invention of the telephone was borne by the need for improved global communication, that didn’t have to consume much time, money and energy like telegraph did then. As such, early crude telephones got developed in the early 1660s and were termed tin-cans because of the similarities between them. But by 1876, Alexander Graham Bell invented the first modern patented telephone and used it in communicating with his secretary. The global need for communication superseded the initial skepticism this invention brought about and led to the widespread of telephones all over the world in less than a century. Today, the young, the old, the beautiful and the ugly all use a phone.

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The internet came about soon after the telephone. Its history is said to have begun with the development of electronic computers. The invention came about due to a need by the U.S Department of Defense Research to keep a communication network active in the event of a nuclear attack by the Soviet Union instead of relying on telephone lines and wires that were susceptible to damage. This, they did by linking computers together and called it the ARPAnet (an acronym for Advanced Research Projects Agency Network).

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THEIR CONTRIBUTION TO THE GLOBAL ECONOMY

The evolution of these three powerful technologies has had far-reaching effects on the global economy, more than can ever be fully appreciated or recorded.

The invention of the printing press was considered the most influential event in the turn of the second millennial for several reasons. First, its invention not only made teaching materials cheaper but also improved the global literacy level by contributing massively to the attainment of knowledge by all who sought it. Books were produced in larger quantities and at affordable rates, to such extent that they no longer became the possession of the rich and elite but could even be afforded by the lower class. It became a source of revenue as it created more job opportunities and led to a massive increase in demand and supply of books. The printing press also had a positive effect on the global economy due to the subsequent flourishment of trade after its invention. It became a large industry leading to the creation of different sectors in the Printing industry; an advancement that is still ongoing even till date.

Telephones on the same hand were considered one of the most important inventions of our time. The reasons are there before everyone because its use neither segregated the young from the old and thus, are being used by over 90% of the world’s population. This technology contributes to the global economy in the following ways. Firstly, it created a lot of job opportunities for many people, and not just as factory workers but also created avenues for an average individual to run telephone a store. Their advancement into smartphones make for a luxurious life to the user while being of benefit to the economy. Today, events can be reported as they happen globally, information can be gotten within the blink of an eye,  photos can be captured, videos downloaded and opportunities can be easily accessed. It is an absolute necessity for businesses as strong telepresence spells reliability and trust. It is the most common basic facility in the home because it allows for easy communication between members of a family. The invention of the telephone made it feasible for businesses to expand to other countries, and with the incredible smartphones today, people can work from almost any location with no need for a physical workspace. As a compact technology, it is even more preferred to computers and as such has a massive impact on the economy more than other inventions so far.

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Research shows that the Internet accounts for 3.4 percent of GDP across the large economies that make up 70 percent of global GDP and about 21 percent of the GDP growth in mature economies over the past 5 years. Because of its high impact on the economic growth and prosperity of the global world, it has been termed the “The great transformer”. Its major way of driving economic growth globally is by driving business transformation and economic modernization. Today, major successful businesses attribute their successes to their strong internet presence as marketing tools, with a clientele base spanning over geographical locations. It is considered the net job creator as it not only creates job within the internet industry but also in other industries.

Summarily, these three inventions continue to make further advancements and impacts on the global economy in more ways than are listed here. Their positive disruptive powers are such that can be easily harnessed by any individual, group, company, state or government for a massive impact in his/her Enterprise.

Written by Chiamaka Adinnu

She is a food scientist who’s also passionate about writing. As such, she has over 5years experience in high-level research and academic writing, with several awards to her name. A contemporary youth activist and gender advocate, she currently writes for Ananke – a digital platform that seeks to empower young girls and also volunteers with several Non-profit organizations in rendering services to humanity. Chiamaka is also a voracious reader of all things book, in order to make for an informed opinion in her writings. As a long-term goal, she aims to engrave her name in the sands of time through her various writings.