What is Technological Transition (TT) and Technological Evolution
Within evolutionary economics, there are two views on the process of technological evolution.
- Evolution is a process of variation, selection and retention.
This view is based Nelson and Winter’s concept of ‘technological regimes’ to understand inertia of established technologies.
- Evolution is a process of unfolding, creating ‘new combinations’ (Schumpeter, 1934, p. 66), resulting in paths and trajectories.
Frank W. Geels, 2001 Technological transitions as evolutionary reconfiguration processes: a multi-level perspective and a case-study