The nano-revolution of Schumpeter's Kondratieff cycle
Introduction
Nanotechnology is a cross-border technology transforming the world's economy. The supramolecular architectures represent a new revolutionary approach in the research and production. The nature of interdisciplinary technology research makes it useful in many applications. However, the strategy of nanotechnology engenders severe international competition. This paper uses Kuhn's model of scientific development and Schumpeter's theory of industrial revolutions as a base to discuss the nano-revolution. This paper argues that nanotechnology has been regarded as a revolutionising technology bringing about a paradigm shift in industrial research. Finally, it sets out the policy implications to encourage the undertakings of nanotechnology research and development towards the revitalisation of the economy.
Section snippets
Models of technical change
The plausible explanation of long waves in economic development lies in the Kuhnian model of scientific development (Kuhn, 1970). Kuhn argues that there are periods of stability (normal science) punctuated by periods of crisis, leading to a revolution and a new normal science. The influence of new paradigm gathers momentum as the norms are widely adopted. According to Lloyd (1986), paradigm is a set of rules, standards, and examples of scientific practice shared by group of scientists, the
Nanotechnology: a successive industrial revolution causing a paradigm shift
As paradigm shifts clearly have occurred in the past, it can be expected that similar paradigm shift would occur in the near future. Nanotechnology can be seen as the sixth Kondratieff to bring revolutions in research arena. The molecular nanotechnology presents a competing theory that emerges in the global research. Nanotechnology deals with the nanometer scale—a scale at one-thousandth of a micrometer or one-billionth of a meter. It is argued that nanotechnology represents a new revolutionary
Conclusions on policy implications
In this paper, it is illustrated that many countries see nanotechnology as key to rebuild/reinvigorate their economies. The scientific change can be seen from its interdisciplinary nature. Being concerned that other countries might outdo them in competition, many governments bring policy agendas to encourage national competitiveness. The need to revolutionise and bring about the new paradigm shift requires the redesign of old systems altogether. In particular, it is argued that, to achieve
Dr Jarunee wonglimpiyarat is Certified Public Accountant (CPA) and Science Policy Researcher at the Ministry of Science and Technology, Thailand. She is undertaking the Nanotechnology Policy and Strategy Research in Asian countries and involved in the Technology Management Programme of the National Innovation Agency. She is mainly concerned with the research in technology policy, technology financing and financial innovations. Her publication includes the Barclaycard case study in ‘Exploring
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Dr Jarunee wonglimpiyarat is Certified Public Accountant (CPA) and Science Policy Researcher at the Ministry of Science and Technology, Thailand. She is undertaking the Nanotechnology Policy and Strategy Research in Asian countries and involved in the Technology Management Programme of the National Innovation Agency. She is mainly concerned with the research in technology policy, technology financing and financial innovations. Her publication includes the Barclaycard case study in ‘Exploring Corporate Strategy’ (Europe's best-selling strategy textbook) and the book of ‘Strategies of Competition in the Bank Card Business’. Her recent paper on Smart Cards got the Best Competitive Case Award from the International Business and Economy Conference, USA.