Technological change (TC) is a term that is used to describe the overall process of invention, innovation and diffusion of technology or processes. The term is synonymous with technological development, technological achievement, and technological progress. In essence TC is the invention of a technology (or a process), the continuous process of improving a technology (in which it often becomes cheaper) and its diffusion throughout industry or society. In short, technological change is based on both better and more technology.
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Read more about Technological Change: Modelling Technological Change, Technological Change As A Social Process, Economics
Famous quotes containing the words technological change and/or change:
“Technological change defines the horizon of our material world as it shapes the limiting conditions of what is possible and what is barely imaginable. It erodes ... assumptions about the nature of our reality, the “pattern” in which we dwell, and lays open new choices.”
—Shoshana Zuboff (b. 1951)
“Men are but children of a larger growth,
Our appetites as apt to change as theirs,
And full as craving too, and full as vain.”
—John Dryden (1631–1700)