Socio-economic development of agriculture based on technological change

Abstract

Societies worldwide have faced different economic, environmental and social challenges in recent decades, including increasing population and consumption, shortages of natural resources, pollution and climate change. Agriculture is one of the most affected sectors. Considering its vital role as a provider of life-sustaining products and services, as well as business opportunities and employment for millions of people, we are responsible for finding solutions for its long-term development. For thousands of years, agriculture has grown in line with human civilization’s growth. During its evolution, though, many negative externalities have become evident. Some resources disappeared; others were severely damaged or exhausted, threatening the food security of many countries or the whole world. The signals nature has sent us for years have become more and more serious. It is about time to change our philosophy of life and our social and economic models. It is time to focus on knowledge, science and innovations, good practices and experience, and new technologies. The main objective of this paper is to summarize and present some of the most influential concepts of economic growth, analyze its dependence on innovations, and present the potential of new technologies to contribute to the social and economic development of agriculture. Some of the analysis is focused on the theory of economic growth and the ways it can provide sustainable development. The factors influencing the continuing economic growth of agriculture are evaluated, and a methodology for assessing technological efficiency is also presented.