William and Colin (2009) define scientific discoveries as the incoming achievements that are majorly grasped through a thorough exploitation and research on nature and the societal needs.
Horton and Freire (2006) assert that, for decades, scientific discoveries have formed the backbone for the worldwide technological advancement and revolutions, which have created a turning point to the direction of the economic development and revolution in the social production. Notably, discoveries bear a special significance on the modern stages of technological progress.
As envisioned by Juan Enriquez, scientific, coupled with the discoveries of genomics have spearheaded the growth of the business world and increased economic influence. This paper, therefore, presents a discussion on the basis that Enriquez envisions for the future for the future of the global economy.
According to William and Colin (2009), future global economy may refer to what the world may look like by the year 2040. Predictions have foretold of tremendous developments in the scientific and the technological world. A plethora of nations are to pull out of repression, poverty, and starvation caused by inadequate food supply.
In addition, other predictive reports have shown the negative future trends in the future. These include overpopulation, rise on the level of terrorism and violence, climate change characterised by global warming, mass migration in search of food as the gap between the rich and the poor widening (Horton and Freire, 2006).
Moreover, Juan Enriquez envisions a future with a full potential in the supply of the energy resources (Teitel, 2002). The supply of energy resources is one of the most critical aspects of an economic model. Most economic activities in a country or across the globe such as industrialisation owe their success to the adequate and reliable source of energy.
The global economic progress depends on the development of the hydrocarbon sources of energy. The hydrocarbon sources of energy should be sustained for the longest duration possible (Santayan, 2008). The use of energy should also take proper care of their impacts on the environment as well as the cost of production.
Similarly, the global economic base is predicted to broaden in the near future (Teitel, 2002). The widening of the economic base across the globe is a program that aims at expanding the marketing resources to not only one superior and economically stable state such as the US markets but also encouraging the individual local market resources.
Achieving this will limit the vulnerability accompanied with the overreliance on the sales of energy resources. The program also aims at creating new markets in the future from where products are expected to rise from both the natural and human resources supply (Horton and Freire, 2006).
Integrating the discoveries of genomics and science with the world of business provides a firm foundation for the sustenance of a sound economic plan and growth across the globe.
In order to provide the sound economic platform for the growth of the global economy, wise and a reliable management system is required. Technological management systems including the use of computers and other automated systems in management of resources such as electricity and transportation systems are necessary to support global interaction (Teitel, 2002).
As claimed by Teitel (2002), the future of the global economy is also envisioned to be consisting of both local and foreign investment. Foreign investments are those often implemented on a large scale on the major natural resources such as the energy resources. Santayan (2008) elaborates in his book that the investments are mostly fueled by the scientific and discoveries of genomics. The management of the future investments requires a more strategic as well as a more disciplined approach in the management of the natural resources.
As a wrap up, therefore, Juan Enriquez envisions the future of the global economy which is characterised by tremendous developments in the scientific and the technological world (Horton & Freire, 2006). The envisioned state in the global economy could be achieved through full utilisation of the sources of energy to the potential as well as broadening the market resources.
References
Horton, M., & Freire, P. (2006). We Make the Road by Walking: Conversations on Education and Social Change. Philadelphia: Temple University Press.
Santayan, G. (2008). Character and Opinion in the United States. New Brunwick, NJ: Transaction Publishers.
Teitel,G. (2002). Transitional Justice. Madison Avenue,NY. Oxford University Press.
William, H., & Colin, M. (2009). Mexicans in Revolution, 1910-1946: An Introduction. Lincoln, NE: University of Nebraska Press.