Theoretical analysis of the technological change : measuring and classifying the economic impact

This research introduces the scale of innovation intensity (SIIN) based on meta-taxonomy that subsumes other, less comprehensive taxonomies. The SIIN is similar to seismic scale used to measure the intensity of earthquakes. The intensity of technological change is measured by an indicator, called Magnitude, based on the impact of technological innovations on the economic system. The theory is applied to some product and process innovations such as agricultural mechanization and muffler catalytic. The results show that some innovations have a higher intensity (economic impact) on wellbeing than others.