Genomics

When economists use the word 'genomics' they are reffering to an emerging system in the world of economics centered around genetics. They think that genomics will be the new economic system to replace the present one. Formerly, the world was dominated by agrarianism. A few hundred years ago the world saw a shift from farming to industrialism. We are presntly in the age of industrialism. If the new school of economists are right, we are at the end of the age. Soon manufactoring will no longer be the driving force in economics. The new force will be genetic manipulation. We are already seeing the beginning of this: crops are genetically modified to have pesticides, gene therapy has been invented (though is nto yet practical) and scientists are considering genetically modifying animals to produce more food.

Success in this form of economics is the knowledge of genetics. If a particular country is lacking in its knowledge of the genomes of humans and other organic beings, or even knowledge in general, they will fall behind other countries who are more skilled in these areas. For this reason, education will become even moreimportant. If people in a particular country are not educated well enough (especially in genetics), they will not be able to compete with people from other countries. Also, countries who are already behind in education and technology (another important factor) will likely fall even more behind. Education and technology will become a moreimportant part of politics as timegoes on.