One of the major themes I have stressed on this blog is the role of innovation in a society. It should be aligned with the purpose (framework) of a nation.
Technology innovation in line with the productive capacity should be the force that allows the wealth of a nation to develop and grow. It should be used as a means of creating jobs and raising the median income. By doing so, it lifts a nation’s economy and expands the middle class. In this way, innovation could be a means of wealth creation in the interest of the most people. Innovation should be nurtured in such a way that it spreads growth around. This would lead to a more democratic society.
Otherwise, it could be used as a means of implementation for the political expediency. It could also be used as a means of concentrating power and wealth at a few hands. That would hamper the political democracy. Therein lie the flaws of the Korean economic growth model and innovation model.
The solid middle class base is the crux of a healthy democratic society. It is important because a large class of people have to provide the checks and balances to make the democracy work, sustain the real economy and pursue innovation. This is the core of the social democratic process.
In this context, technology innovation, middle class expansion, economic growth, and social democratic process should go hand in hand.
We should create and maintain a democratic society for the broader social interest through tech innovation
(A detailed analysis on this topic won’t be shared due to the proprietary nature of the content.)
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