Biotechnology as a new techno-economic paradigm that will help drive the world economy and mitigate climate change |
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| Authors: | Andrew Tylecote |
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| Institution: | University of Sheffield Management School, Conduit Road, Sheffield S10 1FL, UK |
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| Abstract: | A techno-economic paradigm embraces a whole constellation of technically and economically interrelated innovations and influences most industries and an entire phase of economic development. Its full potential to drive and shape economic growth can only be realized after far-reaching reforms have been made in the “socio-institutional frameworks” of major economies and the world economy. In close association with ICT, biotechnology – or the trio of biotechnologies: red (biomedicine), green (plant breeding) and white (industrial) – is now capable of such a role, although the necessary reforms remain to be made. This paper shows how far and in what sense it has reached technological maturity, and what “mismatches” between it and the socio-institutional framework are obstructing its further development and diffusion. It argues that biotechnology (green and white) is needed to play a key role in the struggle against climate change – which in turn can be expected to draw out its potential. |
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| Keywords: | L65 O33 O43 O44 Q54 Q55 Techno-economic paradigm Biotechnology World economy Climate change Socio-institutional framework |
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