Several senior natural resource analysts study the role played by
innovation, particularly technological innovation, in the pursuit
of heightened productivity. Increasing the output of a given input
improves a firm's bottom line, makes it more competitive
internationally, and reduces the potential for resource depletion
and shortages. Thus, high productivity is a necessary ingredient of
economic prosperity. This book illustrates the importance of
technological innovation in achieving an acceptable level of output
and efficiency.
In this important new offering, a team of resource scholars
describes and chronicles the development of recent innovations in
selected natural resource industries. The authors also reveal the
causes, sources, and net effect of such innovation on productivity.
In all of these sectors productivity has increased considerably
since the early 1980s, although the level of improvement varies
across industries. To what degree did technological innovation
contribute to that increase?
Individual detailed case studies detail important innovations in
America's coal, petroleum, copper, and forest industries. The
primary focus is on extraction and production technologies,
although the existence and importance of innovation in other areas
such as management technique also enter the picture. For example,
the combination of new technology with restructuring seems to have
breathed new life into a floundering U.S. copper industry. The
authors describe the origin and diffusion of important innovation,
and the concluding chapter quantifies the net effect of such
innovation on productivity.
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