Technological advances are fundamental to the functioning of today's economy. Despite common complaints, the quality of life for many people is superior to that of kings or tycoons from centuries ago, thanks to the constant evolution of tools and technology. Nowadays, the need to update these tools more frequently is a key aspect, as everything installed loses value over time, making their replacement essential.
In the economic realm, the concept of "fixed capital consumption" or depreciation has gained relevance in recent decades. This phenomenon is manifested in the increased investment necessary to keep fixed assets updated, which contrasts with the traditional standards of years past. It is crucial to adapt to a constantly changing world where investments have an increasingly short useful life.
The rapid technological advancement has allowed the majority of the world's population to access goods and services that were unimaginable in the past. However, this accelerated progress has also brought with it less obvious effects, such as the constant need for maintenance and updating of various components of infrastructure and equipment.
The use of cheaper materials and the so-called "planned obsolescence" are phenomena associated with current technological evolution, which implies rapid changes and reduced durability of products. Job uncertainty and economic instability are consequences of this constant change, affecting both companies and workers.
The depreciation of assets and the increasingly shorter useful life of investments are key concepts in modern economics that require constant reevaluation of financial and business strategies. As technology advances by leaps and bounds, it is essential to understand and adapt to the new challenges presented by this ever-evolving environment.
