E=mc2: Material and energy innovation as a basis for economic growth – Thoughts for scientists and engineers |
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| Institution: | 1. University of Sheffield Management School, University of Sheffield, Sheffield, UK;2. Science Technology Studies Laboratory, Higher School of Economics, Moscow, Russian Federation;1. School of Business and Economics, Michigan Technological University, G019 Academic Office Building, 1400 Townsend Drive, Houghton, MI 49931, United States;2. School of Business and Economics, Michigan Technological University, G08 Academic Office Building, 1400 Townsend Drive, Houghton, MI 49931, United States;3. Asper School of Business, University of Manitoba, 408 Drake Centre, Winnipeg, Manitoba, Canada;4. School of Forestry, Michigan Technological University, 182 Noblet Building, 1400 Townsend Drive, Houghton, MI 49931, United States |
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| Abstract: | Theories that consider technology as the basis for economic growth focus on products – fundamental innovations. These theories have created much interest due to their ability to explain many economic events. However, technology-based long wave theories have been the subject of much criticism by traditional economists. Many of these concerns are addressed by changing a focus on products to engineering materials and forms of energy that are critical for the success of the fundamental innovations. Changing the focus from product to materials and energy not only addresses concerns of economists, but provides insights to scientists and engineers on the development of materials and energy and the management of research throughout the lifecycle of engineered materials and forms of energy. |
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