Allocative institutions, technology

By MICHAEL JOHN UGLO
INFORMATION has the innate capability to cause abrupt changes to take place.
When you have a device with an electronic capability to traverse a pathway, following a certain data type, then you are most likely to access information.
The message relay following the underlying data structure follows an address of any sort as allowed for by the high-level programming language. The kinds of information that is sent to you comes from an operation as contained in an instruction. You have an operator and an operand to involve in a conjunctive or a disjunctive operation for two depending on the underlying data structure with parameter passing as and where necessary.
Similarly, an institution by and large covers scopes as rights including property, patents, law and money. These being the medium as the necessary parameters to be the allocative institutions that maximise exchange in a given economic structure. It gives privileges for smart working people to excel particularly in acquiring wealth.
There is a control called the constraints as provided for by any data type of a programming language. It is in strictest sense a way of ensuring that a particular data type has the necessary data structure to effect the message and therefore the appropriate information is relayed. This is all formalised and follows certain protocols from message/formation and its transmission to reception.
That spells the reason for message and information manipulation is all formalised. They have strict rules in syntaxes and semantics that contravening one or some will result in errors. The errors also can be categorised and one such is a burst error.
An appropriate match can be inferred with the institutions and the economic structures with the governmental control in the exercise to minimise errors for efficient management.
“Contemporary monetary systems permit those in positions of authority to exercise discretionary power in the pursuit of monetary policy objectives. We recognize that this prima facie case may be overcome by sufficiently strong consequentialist, concerns but show that these concerns are ungrounded: discretionary monetary authorities, both in theory and practice, perform poorly.” This is a report abstract by Glenn L. Furton, Department of Agricultural and Applied Economics, Texas Tech University, Lubbock, TX, 79410, USA and Alexander William Salter Rawls College of Business, Texas Tech University, Lubbock, TX, 79410, USA. Contact Alexander William Salter.
The people in position of authority are here and now are privileged as delimited above, in our monetary system to negotiate and acquire as much riches as they possibly can in their term in office or in collaboration with their partners and cronies from the nation state of PNG.
Be mindful that there is no constraint and formalities in place to apprehend all of these illegal activities and stealing going on. As further recommended by Glenn L Furton and Alexander William Salter’s reports “the importance of the rule of law for monetary policy as a requisite for both non-arbitrary governance and macroeconomic stability” is necessary.
That is so that elites and politicians owning multi-million and multibillion worth entities can be forfeited and given back to the state. As the Rule of Law takes its course technology can be utilised to programme all the economic structures, decisions and activities.
The inbuilt constraints in technology will presuppose that all activities done in PNG is going to be accounted for to minimise wastages, stealing and store up the nations riches to develop this nation for the welfare of its citizens and no single evil minded person who has the intention to steal from the state. People can acquire wealth when they worth it through the Court of Law as certified by the Court of Law. That should be the constraint.
Thumbs up for a politician who can champion this platform and you will be the champion of the poor and the people of PNG who will rescue them from destruction to prosperity.

Technology and maximising exchanges in an economic structure
Mirgrating from cassette tape recorders to CDs, DVDs and magnetic disk drives has impacted real alterations in the various memory storage capacities and ease in operations.
The usual video cassettes are now reduced to portable DVDs that use differing strengths of high powered shorter electromagnetic waves as rays to write and read electronic data for one.
“The widespread adoption of information, communication and technology, combined with the rapid decline in price and increase in performance of these technologies, has contributed to the development of new activities in both the private and public sector.” This was from a report from Chapter 4 – The digital economy, new business models and key features.
Such changes will cause a huge and a complex impact on the PNG economy at large. For instance, lets look at the loading of information from a backing store to a primary memory. The read only memory (ROM) can upload all information from a cold boot.
Then an arithmetic operation from Central Processor has started off with an operation that has the operand from an input and picks up the second operand from the memory location to dispose as an output.
Such similar operations in various parts of the program or programs in a linked architecture will produce a very complex working entity.
It can be seen that, PNG economy can be formalised in a similar, modus. Start formalising all economic activities though simple it may seem will cascade to a wave of a complex but prudent formalised economic system facilitated by technology. This is the justice the people of PNG have to be accorded to impart dignity to the least significant to experience a fairer share of the nation’s wealth as equals. Subsequently, not as Chiefs and Indians as practiced in PNG at the moment. This is so as always reverberated PNG as a Christian country, now we have to walk the talk by impacting this to avert us from being hypocrites.

Technology and institutional exchanges
A report by UNCTAD – Palais des Nations, 8-14, Av. de la Paix, 1211 Geneva 10, Switzerland United Nations Conference on Trade and Development states that “Entrepreneurship, technology and innovation are mutually supportive.
Technology provides entrepreneurs with new tools to improve the efficiency and productivity of their business, or with new platforms on which to build their ventures.”
The report further states that “entrepreneurs fuel technological innovation by developing new or improving existing products, services or processes and ensuring commercialisation.
In developing countries, both angles are important to varying degrees, depending on the level of local economic development, the rate of adoption of technologies in use internationally, and the innovation capabilities of local firms or research institutions.
Taking into account the two-way relationship between technology/innovation and entrepreneurship”
Adopting technology to fix the inequality, disenfranchisement, alienation with stealing, greed and pride and all the darker side of deception employed by the elites and well to do people in this nation can be corrected for the betterment and progress of this nation as outlined above.
I will end with paraphrasing one of the greatest Greek philosophers of all time, Aristotle “the more you own the more you owe to the society”.

Next week: Industrial policies (tariffs, subsidies etc) are institutions of production that create growth promoting structural transformations.
Note: If you are not sure with the content in any of the articles in this series on technology and digital economy and need explanation, please order the entire series to be sent to you with elaborations. You can also send any comment to be taken on board for the next article to: [email protected].

• Michael John Uglo is a lecturer in avionics, auto-piloting and aircraft engineering.