Technological Development and Resource Constraints: A Critical Analysis

Abstract

The world continues to transform with technological advances, but limited resources are a significant obstacle to this progress. This article examines the complex relationship between technological progress and resource limitations. Mathematical models show how various factors influence technology adoption rates, including knowledge, skills, access, government policy, and the availability of new technology. Limited resources such as capital, labor, and raw materials can hinder technological progress by increasing costs, slowing innovation, and limiting implementation. The discussion in this article provides several suggestions for further research in terms of research and development, policy and strategy, such as formulating policies that encourage responsible and sustainable technology adoption, as well as ensuring fair access to new technology and improving education in the fields of science, technology, engineering, and mathematics, and provide comprehensive and accessible technology training programs.