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Originally Posted by 13lackGu4rd
I wouldn't call "radical innovation" as "technological progress". radical innovations is mainly in the realm of theories. if engineers or whoever else actually find useful products to be made out of these radical innovations than they usually try to make them with current technologies. it is rare for technological progress to happen on the basis of some crazy theory.
keep in mind that technological progress is not usually done by universities or other research institutions, unless said institutions found some miraculous break through. technological progress is normally done by corporations, and to a lesser extent smaller companies, as in the private sector. the private sector thinks economically, so if a technological progress doesn't improve their production lines in any way than they just won't bother with it.
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Radical innovation is a term used in economics. Radical innovation creates new types of products, new markets, and doesn't happen all that often. It is more than just thinking about a new crazy theory in a ivory tower.
Incremental innovation tends to increase already existing products. Example: New types of screens, lighter products, small feature increases.
For example, transistors, personal computers, creation of the internet, working strong AI are all examples of radical innovations. They created whole new product and markets lines where none where there before.
While for example all the recent products Apple released are just gradual innovations. (The power of Apple, or at least Steve, is to make them look like radical).
You are utterly wrong about the source of radical innovation btw. Both types of innovation are done in the private sector and by universities. Private sectors do it to try to keep ahead of the competition, if your competition is ahead with developing something radical, they have a huge competitive advantage. (Sorry if my tone is a bit off here, but I did a minor in technological management, which spend a lot of time discussing innovation, different types of innovation, economics etc).