Welfare of Government - Essay Example

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This paper discusses the ways in which various governments influence the process of innovation and technological developments, and ways in which the government approaches can help achieve sustainable levels of energy use. Innovation and the Government Governments across the globe support technological innovations, including their creation and demonstration, to give confidence and promote the private investors in their countries to adopt these new technologies. Governments will get involved in innovations through initiating technological research, development and demonstration projects in which they offer wide financial support. Further, governments support innovations and technological developments in their nations through subsidizing programs that support these developments (Deutch 2005). The governments have acknowledged that innovation is the process through which they can effectively achieve technical change. The governments are actively involved in the initial step of innovation, which is the creation of technology in their countries. This is often accomplished through supporting the discovery of new technologies and sciences. As earlier mentioned governments together with the help of the private sector and other foundations, sponsor and fund the discovery activities (Deutch 2005). ...Show more

Summary

Innovations in technology are important to the future welfare of governments because they have the capacity to protract economic development, improve the living standards of the citizens and enhance human health …
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