Scientists around the world are ready to see JWST go the telescope has been over budget and behind schedule for years. It’s the scientific successor to the Hubble Space Telescope, which completely altered our view of the universe.
JWST, an enormous $9.7 billion observatory with 18 mirrors coated in gold, is scheduled to launch into space this December. Over the last three decades, the corresponding values never amounted to more than 20%.6 In this sense, interrupted supply chains pose a threat to recovery at a time when industrial orders have surged. In the automotive industry, over 90% suffer from these shortages in the engineering sector, it is over 80%. A combination of rapidly rising demand and reduced production capacities during the pandemic has led to serious shortages that are increasingly holding back industrial production.5 In surveys among German companies, over 70% report that supply shortages hamper their production. A major contributor to the declining economic sentiment is shortages in materials and upstream products. The composite index marked a five-month low and the manufacturing index a seven-month-low in August (figure 2). The Purchasing Managers’ Index peaked in summer and has been declining since then (figure 2). In ancient and medieval times, the nobility and academics almost exclusively faced information overload-related problems, as Blair (2012) and Levitin (2014) suggested.ĭespite the positive news around private consumption and corporate investments, economic sentiment in the Eurozone is on the decline. In particular, the rise of IT and the use of internet services have resulted in an expansion of information overload-related problems for all social ranks. Before these radical innovations, the issue of information overload was limited to a wealthy and privileged elite.
Two radical innovations supported the rapid increase in the availability of information and the decrease in information search-related costs: Gutenberg’s printing innovations and the rise of information technology (IT). As Blair (2012) noted in her review article, even in the thirteenth century, scholars complained of “the key ingredients of the feeling of overload which are still with us today: ‘the multitude of books, the shortness of time and the slipperiness of memory’” (Blair 2012, p. 1967 Eppler and Mengis 2004), but the phenomenon is not confined to the modern world. Information overload occurs when decision-makers face a level of information that is greater than their information processing capacity, i.e., an overly high information load (Schroder et al.
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