9Innovation and the Future of Earth
Earth is a body of fixed natural resources. To avoid the limits of these resources, humanity must develop new ways of using them by expanding total factor productivity to elevate the standard of living and continue to progress. This process is accomplished through innovations initiated by inventors and implemented by entrepreneurs applying new technologies created using scientific knowledge for beneficial purposes.i An entrepreneur sees a business opportunity using the latest technology and convinces investors of the value of taking on greater than normal financial risks to implement the creative, disruptive innovation. All the required components for innovations to occur are ...
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