The Magic of the Cell Phone An increased level of mobile phone use is giving rise to improvements in productivity, education, entrepreneurship and political participation, especially in developing economies. The net effect is that increasing efficiency in telephone use is supporting higher economic growth rates. According to findings of a research report by the Cologne Institute for Economic Research titled Mobile Technologies: The Digital Fabric of Our Lives, Mobile phones have altered our relationships with family, spouses and close friends. The study was commissioned and published by the Vodafone Institute for Society and Communications to explore the ways in which mobile technologies influence economics, society and peopleâ€™s private lives across 10 countries â€“ the UK, Germany, Italy, Spain, China, India, Turkey, Egypt, Kenya and South Africa. The report also showed that mobile phones significantly help to maintain physical and psychological health when family members move away from home, even as they help to enable women maintain three roles within the household. That is being wives, mothers and wage earners, simultaneously. In terms of political participation and other variables, the report also shows that increased mobile phone subscriptions are correlated with more democratic participation, less gender inequality and longer time spent in education. Economic growth is also promoted as people gain productivity increases with their telephones. Now these are obviously macroeconomic considerations. In our microeconomic analyses at the EBS, we have observed that the cell phone can bring you results like magic if you know how to use it. Think of using it to contact people literally face to face around the world with products like Skype and FaceTime. And face book, Instagram and whatsapp are simply indispensable for social networking with your phone. Getting your messages on the go, even being able to do selfie videos for promoting your products on line is right there for you with your cell phone. Indeed a good start up video producer can find self operated videos on the phone good enough for some broadcasting. And now kids in primary and secondary school can use cell phones to gain a great advantage with financial literacy, academic games and exchange of educational content, using products like SHAFRI ( Study Hall Africa). The bottom line is this, if you are a young entrepreneur check to see that you are familiar with all that your phone can do for you more than just showing it off. Our hidden economics for you.
Posted: Mar 22nd, 2016 @ 04:58:04 AM