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Technology Leverage and Sustainable Society Systems: A Call for Technology Forecasting that Anticipates Innovation
Adelphi University, USA. (IPR (Innovation and Product Realisation))ORCID iD: 0000-0001-6179-8157
Adelphi University, USA.
Adelphi University, USA.
2011 (English)In: International Journal of Society Systems Science, ISSN 1756-2511, Vol. 3, no 1-2, p. 5-20Article in journal (Refereed) Published
Abstract [en]

We argue that economic value to society is created by converting input resources into valued outputs though the application of technology. To support this argument, the concept of technology leverage is introduced, and it is noted that the same input resource can be converted into different output values depending upon the technology employed in the conversion process and the state of technical innovation at the time the conversion occurs. This implies that through as yet unrealised innovations, future generations may create greater value for the same amount of resource than is currently possible. This difference has significant ramifications for current day resource allocation decisions. In addition to more conventional conservation arguments, technology leverage also recognises that the future value of retaining resources, especially non-renewable ones, may be evaluated using real option valuation techniques. These concepts are helpful in determining more comprehensive policies relating to resource allocation decisions.

 

Place, publisher, year, edition, pages
2011. Vol. 3, no 1-2, p. 5-20
National Category
Engineering and Technology
Identifiers
URN: urn:nbn:se:mdh:diva-23339DOI: 10.1504/IJSSS.2011.038930OAI: oai:DiVA.org:mdh-23339DiVA, id: diva2:678638
Available from: 2013-12-12 Created: 2013-12-10 Last updated: 2016-05-16Bibliographically approved

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Hazy, James K.

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