Government Policy And Technological Innovation
Which of the following is a likely long-run consequence if governments worldwide implement policies favoring technological innovation over resource extraction industries?
Improved efficiency gains could lead to sustained economic growth, whereas diminished reliance on extractive sectors decreases environmental degradation risks.
Increased unemployment in formerly dominant resource extraction sectors without adequate job retraining programs in place.
Shifts the balance of power in favor of countries better positioned to innovate versus those rich in natural resources, causing geopolitical tensions.
Stagnation in developing nations lacking the capacity to innovate and quickly adapt to new global economic paradigm shifts.
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