The Concepts of Technology and Innovation
The concepts of technology and innovation have many definitions. The term is broad and has many facets in the academic and business world. Let's take a look at a few of them:
The United States was a technology and innovation leader 70 years ago, but today, it's lagging behind its major competitors. Policymakers are likely to hear from their constituencies, which might prevent innovation or protect incumbents from competition. The rule of law, property rights, patent protection, free trade, and various incentives for investment are some of the policies in place. In many cases, light-touch regulations and incentives to invest have also been implemented.
While few countries create frontier technologies, all countries need to prepare themselves for them. To do this, the Technology and I...