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The concept of a technological innovation system was introduced as part of a wider theoretical school, called the innovation system approach. The central idea behind this approach is that determinants of technological change are not (only) to be found in individual firms or in research institutes, but (also) in a broad societal structure in which firms, as well as knowledge institutes, are ...
A technological revolution may involve material or ideological changes caused by the introduction of a device or system. It may potentially impact business management, education, social interactions, finance and research methodology, and is not limited to technical aspects.
The focus of evolutionary economics is on economic change, but as a driver of this technological change has been considered in the literature. [5] Joseph Schumpeter, in his classic Theory of Economic Development [6] placed the emphasis on non-economic forces as the driver for growth. The human actor, the entrepreneur is seen as the cause of ...
The central concept defining a technological society is technique. Technique is different from machines, technology, or procedures for attaining an end. "In our technological society, technique is the totality of methods rationally arrived at and having absolute efficiency (for a given stage of development) in every field of human activity." [1]
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]
This term encapsulates the interplay between technology and capitalism, highlighting how advancements in technology influence economic structures, labor markets, and social relations. A significant aspect of technocapitalism is the rise of the intangible economy, which is marked by the increasing importance of non-physical assets such as ...
Social construction of technology (SCOT) is a theory within the field of science and technology studies. Advocates of SCOT—that is, social constructivists—argue that technology does not determine human action, but that rather, human action shapes technology. They also argue that the ways a technology is used cannot be understood without ...
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 ...