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The technological innovation system is a concept developed within the scientific field of innovation studies which serves to explain the nature and rate of technological change. [1] A Technological Innovation System can be defined as ‘a dynamic network of agents interacting in a specific economic/industrial area under a particular ...
Conversely, modern technology dynamics studies generally advocate that technologies are not "self-evident" or market-demanded, but are the upshot of a particular path of technology development and are shaped by social, economic and political factors. in this sense, technology dynamics aims at overcoming distinct "internal" and "external" points ...
Innovation economists believe that what primarily drives economic growth in today's knowledge-based economy is not capital accumulation as neoclassical economics asserts, but innovative capacity spurred by appropriable knowledge and technological externalities. Economic growth in innovation economics is the end-product of: [5] [6]
Work on technological transitions draws on a number of fields including history of science, technology studies, and evolutionary economics. [2] The focus of evolutionary economics is on economic change, but as a driver of this technological change has been considered in the literature. [5]
Therefore, technology is identified as a problem-solving activity in which the problems to be solved are selected by the paradigm itself. In this sense, a technological paradigm entails strong prescriptions on the direction of technological change, that is the direction toward which future technical improvements will converge. Such gradual ...
Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages is an academic book by Carlota Perez that seeks to describe the connection between technological development and financial bubbles as seen in the emergence of long term technology trends. The model described by Carlota Perez shows repeated surges of ...
The distinction between universal technological revolution and singular revolutions have been debated. One universal technological revolution may be composed of several sectoral technological revolutions (such as in science, industry, or transport). There are several universal technological revolutions during the modern era in Western culture: [6]
Technology Gap Theory is a model developed by M.V. Posner in 1961, which describes an advantage enjoyed by the country that introduces new goods in a market. [1] The country will enjoy a comparative advantage as well as a temporary state of monopoly until other countries have achieved the ability to imitate the new good.