ABSTRACT
This chapter explains basic concepts related to technology, technological progress and technology diffusion. It explains why technological development constitutes one of the major factors determining the process of economic development. It briefly discusses the technological revolution that the world has undergone through the ages and shows why and how these technological breakthroughs have generated profound structural shifts in the global economic landscape. It explains the idea of the techno-economic paradigm as the concept linking technology, economy and society, thus showing its interrelatedness and connectedness. Finally, this chapter introduces the term information and communication technologies, shows unique features of these technologies and briefly discusses the ongoing Digital Revolution.
