Final answer:
The best technology investment for a ship depends on the need for efficiency, compliance with maritime regulations, and scalability. The rapid technology growth and the comparison between the Voyager I and smartphones demonstrate the transformative impact of such investments. However, technology inequality issues highlighted by Tyler Cowen must also be considered.
Step-by-step explanation:
To determine which technology would be a better investment for a ship, it's essential to consider the growth of technology and its impact on operations both at sea and in the broader economy. With the rapid advancement of tech, access to real-time data, navigation systems, and global communication has become integral to staying competitive in the shipping industry. The Voyager I, as compared to the smartphone in your pocket, illustrates the vast strides we've made in technology – a testament to relentless research and development.
However, it's also crucial to acknowledge the technology divide impacting access to these innovations. As highlighted by Tyler Cowen, there is a growing gap in technology accessibility that could lead to further disparities in skills and wages. Proprietary technologies that enhance efficiency, safety, and communication onboard ships, while costly, may provide long-term returns through improved operational capabilities and adapting to the modern economy's demands.
Thus, a better investment for the ship would be the technology that maximizes the efficient use of resources, ensures compliance with evolving maritime regulations, and offers room for scalability in the face of future technological developments. Considering both the benefits of technology and the potential for exacerbating the inequality gap, investments should be both innovative and socially aware.