Question

What is role of industry in economic development

Answer 1

Explanation:

PLG: It is absolutely not how I think of the problem not for Poincaré, not for Einstein. Almost all of my work

stems from a concern with the strange juxtaposition of the very abstract and the very concrete. This is not a

question that is by any means restricted to physics, but physics makes it abruptly clear how suddenly we pass

from symbols to materiality. In Einstein's Clocks, Poincaré's Maps, I want to get away from two widespread

ideas: first, a notion that science proceeds by a kind of Platonic ascension, an evaporative or sublimating

process that takes the material into the abstract. Material relations do not eject ideas or produce ideas like

ripples on the surface of deep-flowing currents. And here coordinated clocks did not cause Einstein to introduce

the synchronizing procedure. Telegraphic longitude mapping did not force Poincaré to the simultaneity

procedure. Conversely, physics does not advance by pure condensation it would be a terrible distortion to see

physics beginning in a realm of pure ideas, and then gradually acquiring the weight of materiality until they

stand in corporeal form as the objects of everyday life. So the reason that I find this moment of late-nineteenth

and early-twentieth-century contemplation of time so interesting is that it represents neither of these unilateral

directions (concrete- to-abstract or abstract-to-concrete). Instead there is an extraordinary oscillation back and

forth between abstraction and concreteness. I like this mix this high-pressure interaction of material

technologies, philosophy, and physics. Each was in play, in different ways, and "simultaneity" was at stake in

each domain: in Lorentz's mathematical "local time," in the technological exchange of time signals, in the

philosophical critique of absolute time. In their own ways, Poincaré and Einstein were reading philosophy,

working at technological projects, grappling with electrodynamics. Einstein certainly knew pieces of what

Poincaré had done (how much and exactly when is a longer story). Then came Poincaré's moment in December

1900 (and Einstein's in May 1905) when a statement about what simultaneity is suddenly participated in all

three arcs the crossing point.

Ok....

Answer 2

Industry is viewed as leading sector to economic development. We can have economies of scale by applying advanced technology and division of labour and scientific management. So production and employment will increase rapidly. This will bring economic growth and capital formation.