Introduction: Revolutionary Technologies

Abstract

For many of the world’s needed innovations we must thank inventors who are motivated only by the joy of working with advanced technology. They are aided by venture capitalists who see the opportunity for an extraordinary return on investment. Not to mention sales executives who wish to ride growing markets, especially when there’s an equity kicker. Still other entrepreneurs enjoy having a vision, seeing it actualized, and making a lot of money. But socially desirable benefits emerge from technological innovation and its successful diffusion, regardless of the motives of the actors. The benefits are improved productivity, increased exports, reduced waste and pollution, and the creation of jobs.

“People will buy something new. They will not buy something revolutionary.”

Marketers’ proverb

“A technology can be called ‘revolutionary’ if it changes people’s physical or mental capabilities by a factor of ten.”

Feigenbaum, McCorduck & Nii, The Rise of the Expert Company