Three principles that (still) impact all engineers

Three major principles that have accelerated economic activity and will continue to play a dominate role that are especially important for all engineers to keep in mind:

1. Moore's Law states that computer processing speed doubles every 18 months with transistor improvements.  This simple calculation had held true for decades: Just try to imagine how much faster (and cheaper!) your current computer is today than one of five years ago.
2. Gilder's Law postulates that communications bandwidth (like fiber-optic phone lines and satellites) grows at least three times faster than computer power.  Therefore, if computer power doubles every 18 months, communications power doubles every six months.
3. Metcalfe's Law proposes that the usefulness, or value, of a network rises exponentially with the number of uses.  The more users, the more useful and valuable is the network (or market).  If only two comprise a market, it isn't particularly useful.  But if two to three billion people are in your market, do the math.  Consider how many people are now on the Internet today.

Economist Tyler Cowen places the three principles in the proper context - - "Computing power solves more problems each year . . ."