How fast should we innovate?

ABSTRACT

The role of speed in innovations needs to be explored more thoroughly. I advocate here that for innovations which rely on scarce materials, research into more abundant substitutes needs to be accelerated while a regulatory-driven extension of the product life should slow down the number of incremental innovations and reduce our overall footprint on scarce resources. Chemical elements need to be established as global commons whose overuse can be regulated if required. Part of the efficiency gains of innovations could be used for research to offset the ‘rebound effect’ and provide the public with a return on early infrastructure investments.

KEYWORDS:

• Innovation
• innovation and speed
• commons
• rebound effect
• non-equilibrium economics

Acknowledgements

This research received no specific grant from any funding agency in the public, commercial, or not for-profit sectors.

Notes on contributor

Thomas Vogt is the Educational Foundation Distinguished Professor of Chemistry and Biochemistry at the University of South Carolina. His research focuses on the structural characterization of new materials. His other interests are in the history and philosophy of science, epistemology, innovation and science policy. He is a Fellow of the American Physical Society and the American Association for the Advancement of Science.

ORCID

Thomas Vogt http://orcid.org/0000-0002-4731-2787