Has Paul Romer missed something in development economics?

Paul Romer, chief economist at the World Bank until earlier this year, is certainly worthy of the recognition that comes with sharing the Nobel Prize for economics.

But, has he missed something, along with many others?

His famous 1990 paper on endogenous growth theory explained the success of Western economies in leveraging the power of ideas, creating enormous prosperity, and elevating the notion of “technology” as the key for economic growth. For the last decade, much of his effort has been focused on promoting economic development for the world’s poor, most of whom live in less developed countries.

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A great honour…

I was surprised and honoured to learn that I have been selected as a finalist in the professions category for West Australian of the Year: http://www.celebratewa.com.au/2018-finalists/professions-award-finalists/.

I have to say thank you to those who nominated me first and the judging panel.  I also need to thank everyone who has been part of my life and the projects which were cited in the award and so many others too.  Thank you to all the Close Comfort team and so many customers who have bought our products.  Many good people at UWA, particularly in the engineering and mathematical sciences faculty, deserve recognition for all the help and support they have provided.  Thank you to my family and so many other people who have helped and supported me for so long.

Just one thing, since I have your attention.  We in Australia are so fortunate, a vast and richly endowed continent, with so many wonderful energetic people who care about the world.  We can help others build a better future for all.  I feel so fortunate that I have been able to help with ideas and inventions that could improve life for everyone,  especially those suffering from heat and inadequate drinking water.  Our future depends on how we help the least fortunate, everywhere, and at the same time help build a better world for our children and grandchildren.  There are lots of ways to help: please do what you can, either yourself or by supporting people who can make a difference.

 

Engineers: I need your help

I have taken on the job of editing a short book – 30 Second Engineering being published by Ivy Press.  The aim is to provide non-engineers with a quick introduction to what engineering is all about.

The book is part of a widely published, popular series and is likely to be translated into many languages.

Part of the challenge is to describe everything about engineering a non-engineer might want to know in 50 paragraphs of 220 words, each encapsulating a separate engineering topic!

Here’s a draft for mechatronics, just to give you an idea of the content we are aiming for.

I need your help with suggestions for famous engineers to be featured in the book, particularly engineers from Asian or other countries and not so well known in the English-speaking world.

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Energy Savers Cooling a Warming World

You probably know that I now spend most of my time running our little technology startup company Close Comfort.   We recently passed a significant milestone with over 1000 of our energy-saving air conditioners sold to happy customers.

It all started with my marriage to wonderful wife and partner Samina Yasmeen.  Living with her Pakistan family brought summer reality.

Two billion people South Asia dread the summer. Shimmering heat starts in March and April and stifling sweaty nights last into November.  Listless days follow nights of fitful sleep at 40C under noisy fans. A tiny privileged elite run energy guzzling split air conditioners, crippling electricity grids.

Load shedding, a novelty in Australia, is routine across south Asia and Africa: power is on and off every hour or two.  Batteries keep fans and LED lights on but the unit electricity cost soars.

Sustainable relief from heat and humidity is now in sight thanks to our energy-saving air conditioning technology.   It’s a great thrill that our air conditioners are now in 5 countries, albeit with small-scale marketing campaigns.

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Guide for Value Creation in the Engineering Enterprise (Updated March 4, 2018)

  • Engineers’ remuneration and recognition is strongly related to the value they create – a well-supporting finding in economics.
  • Our research shows that engineers today know little about value creation, and what little they do know does not align well with investors’ ideas.
  • We conclude therefore that engineers will be paid less than they think they are worth (which agrees with survey findings) and second, there is plenty of potential to improve engineers’ remuneration and recognition if they take the time to learn how to create value.

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The Great Artificial Intelligence Scam (Again)

{A longer version of this post appeared in the Australian Financial Review on August 18th under the title “When robots learn to lie, then we worry about AI“.}

Great claims are being made for artificial intelligence these days: AI.

Amazon’s Alexa, Google’s assistant, Apple’s Siri: these are all claimed as examples of AI.  Yet speech recognition is hardly new: we have seen steady improvements in software like Dragon for 20 years.

We have seen claims that AI with new breakthroughs like ‘deep learning’ could displace 2 million or more Australian workers from their jobs by 2030.

I was fortunate to discuss artificial intelligence with a philosopher, Julius Kovesi, in the 1970s as I led the team that eventually developed sheep shearing robots.  With great insight, he argued that robots, in essence, were built on similar principles to common toilet cisterns and were nothing more than simple automatons.  “Show me a robot that deliberately tells you a lie to manipulate your behaviour, and then I will accept you have artificial intelligence!” he exclaimed.

That’s the last thing we wanted in a sheep shearing robot, of course.

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Engineering Value Creation

Before reading this, please see the post of December 7, 2017, where I have released a comprehensive guide for engineers, students and educators on value creation in engineering enterprises…..

In my last post, I wrote a brief explanation about value and value creation, noting that “value” has many different meanings.

In this post I will summarize what Bill Williams and I think is a new theory of engineering value creation, the subject of my address to the International Conference on Engineering Education Research (iCEER 2016) in Sydney on November 24.

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