Scientific research is crucial in the search for new technological alternatives that are
capable of increasing production and productivity in a sustainable manner. More goods are
thus made available at lower prices, which is particularly important for low-income
groups, especially for food. The lowest income groups are known to spend a very high
proportion of their income on food products.A large amount of public resources is
invested in the generation of technology. Because these funds are restricted, their
opportunity cost is high. This is especially the case in developing countries, given the
many and growing needs of their populations in areas such as education, health, electric
power, security, and road infrastructure.
Research design and planning must therefore be rigorously prioritized to ensure that
funds are invested in those alternatives that will most benefit society as a whole.
Several non-excluding alternative criteria can be used to assess the potential of these
new technologies and to set priorities. For example, the size of benefits in relation to
necessary investments, the distribution of benefits among producers and consumers (large
and small, rich and poor), and the externalities of the technology regarding its impact on
the environment, on natural resources, and on other economic activities. As a result, the
assessment of the socioeconomic impact of new technologies is a very broad concept that
goes beyond the simple, direct effect of technology on production and prices. |
