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    Technological Change in The Third World

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    Bishan Maharjan
    Technological change refers to incremental improvements in knowledge and ideas that enhance social and economic well-being. It occurs through invention, innovation, and diffusion of ideas into tangible products that meet human needs. Technological change drives economic transformation from lower to higher levels of economic activities. Invention creates new items, innovation improves inventions, and diffusion spreads technologies into different economic sectors, allowing for further creativity through the invention-innovation-diffusion process. Continuous technological improvements enhance human capabilities and increase production efficiency, quality, and output, which is needed to drive economic transformation in an increasingly globalized and interdependent world.

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    Technological Change in The Third World

    Uploaded by

    Bishan Maharjan
    22 views6 pages
    Technological change refers to incremental improvements in knowledge and ideas that enhance social and economic well-being. It occurs through invention, innovation, and diffusion of ideas into tangible products that meet human needs. Technological change drives economic transformation from lower to higher levels of economic activities. Invention creates new items, innovation improves inventions, and diffusion spreads technologies into different economic sectors, allowing for further creativity through the invention-innovation-diffusion process. Continuous technological improvements enhance human capabilities and increase production efficiency, quality, and output, which is needed to drive economic transformation in an increasingly globalized and interdependent world.

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    Technological change in the Third World

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    Technological change refers to incremental improvements in knowledge and ideas that enhance social and economic well-being. It occurs through invention, innovation, and diffusion of ideas into tangible products that meet human needs. Technological change drives economic transformation from lower to higher levels of economic activities. Invention creates new items, innovation improves inventions, and diffusion spreads technologies into different economic sectors, allowing for further creativity through the invention-innovation-diffusion process. Continuous technological improvements enhance human capabilities and increase production efficiency, quality, and output, which is needed to drive economic transformation in an increasingly globalized and interdependent world.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    22 views6 pages

    Technological Change in The Third World

    Uploaded by

    Bishan Maharjan
    Technological change refers to incremental improvements in knowledge and ideas that enhance social and economic well-being. It occurs through invention, innovation, and diffusion of ideas into tangible products that meet human needs. Technological change drives economic transformation from lower to higher levels of economic activities. Invention creates new items, innovation improves inventions, and diffusion spreads technologies into different economic sectors, allowing for further creativity through the invention-innovation-diffusion process. Continuous technological improvements enhance human capabilities and increase production efficiency, quality, and output, which is needed to drive economic transformation in an increasingly globalized and interdependent world.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 6

    Technological change in the Third

    World
    Technological change is a term used to describe
    incremental change in the quality and quantity of
    knowledge and ideas that are applied in the stream of
    activities to enhance the social and economic well being of
    the society.
    it is also referred to as technological progress.
    Technological change occurs through the process of
    invention, innovation and diffusion that leads to the
    transformation of ideas and knowledge into tangible
    products that have high utility value to human needs.
    • . The effect of technological change propels
    economic transformation; a change in the structure
    of an economy over time from a lower, rudimentary
    and subsistence level to a higher and more
    sophisticated level of economic activities.
    • While the acquisition and application of technology is
    a key factor in achieving economic transformation,
    economic activities are in turn, veritable source of
    technological progress.
    • Hence, economic growth, economic transformation
    and technological change are intervolving activities
    that reinforce each other.
    •
    • . Dimensions of technological change and
    economic transformation.
    • Invention-innovation-diffusion mechanism
    Technological change occurs through a three
    chain relationships-- invention, innovation and
    diffusion. Invention is the creation of an item
    based on original ideas and knowledge more
    often described as “breakthrough”
    technology.
    • Innovation is additional creativity that
    improves the features and usefulness of
    invented products.
    • Diffusion refers to the spread of technological
    knowledge into various streams of economic
    activities that expands the space for further
    creativity to amplify the chain mechanism of
    invention, innovation and diffusion.
    • Technological change emerges as a by-product of
    active participation in the process of production,
    complemented by activities. The system of
    innovation could target a key sector and after
    success spill-over to other sectors of the economy.
    • . Continuous use of invented technological product
    leads to innovation based on improvements in the
    form, use and adaptation of the initial product.
    • Technological change enhances human
    capabilities that lead to quality improvements
    and efficiency in terms of producing more
    without additional response.
    • The need for technological change to drive
    economic transformation has become even
    more intensified by an increasingly
    interdependent global economic distribution
    that tends to undermine and marginalize
    economies.

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