North Carolina Innovation Economist is Guest on Two National Business Network Programs: Author of Predicting Technology Describes How The Innovation Process Works

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Book explains the difference in the two primary types of technological innovation - innovation that causes new future markets to be created, thus disrupting existing markets, and innovation that acts to sustain existing markets and perpetuate existing distribution of incomes and political power.

Thomas Vass, author of the recently published book, Predicting Technology, appeared as a guest on two national business networks last week to discuss how the innovation process works.

"Tom Vass provides an excellent insight into the forces of regional economies and makes a persuasive argument for regional specialization. I greatly enjoyed having him as a guest on my radio show," said Garrett Sutton host of nationally syndicated radio program Success DNA on WS Radio.

Sutton interviewed Vass on issues related to metro regional innovation strategies for U. S. cities that are mired in economic decline. "I think all metro regions face economic problems if they continue to employ the old traditional economic development strategy," said Vass. "Trying to accommodate the economic logic of global low cost production will not lead to wealth creation for most residents in America," he added, "and Sutton's radio program highlights how citizens can prepare for a better economic future."

"The information Mr. Vass provided regarding new markets creating new wealth, how to identify what the new markets are and how one can take advantage of these technological changes is priceless," said Susan Roman, Executive Producer, of the I Business Channel.

Vass appeared as a guest on their nationally syndicated Cover Story program. He was interviewed by host Brent Leary. "He created true excitement about the possibilities of the internet and technology of tomorrow for our entrepreneur viewers who, in today's society, must be able to identify the next market AND keep up with it. I look forward to his next book, said Roman."

(Video link available at: http://www.OnTheRibbon.com/videoplayer.php?ep=1632)

Brent did a terrific job at leading me through the argument that I present in my book about how technology evolves in defined metro regions," said Vass. "We were able to discuss how technological innovation is related to the entrepreneurial new venture creation process, which is the economic solution for many metro regions."

Vass said he is currently involved in a national effort to promote innovation economics as a policy alternative to industrial recruitment. "I have been working with Dan Loague, the Executive Director of the Capital Formation Institute, located in Virginia, on how to create a national roundtable dialogue about the benefits of technology-based regional economic development," said Vass.

"Part of the slow adoption of the innovation economic model in America is related to the absence of a trade association that promotes the financial interests of businesses that make money on the innovation process," explained Vass. "The financial interests that benefit from the industrial recruitment strategy, on the other hand, are well organized politically at both the state and national level, and I hope that our national dialogue will begin to overcome this organizational gap between the two approaches to metro economic development," he said.

About the book: Predicting Technology: Identifying Future Market Opportunities and Disruptive Technologies (Great American Business and Economics Press, ISBN: 978-0-9794388-0-6, $24.95) explains the difference in the two primary types of technological innovation - innovation that causes new future markets to be created, thus disrupting existing markets, and innovation that acts to sustain existing markets and perpetuate existing distribution of incomes and political power. Centered on Vass's theory that technological innovation creates new markets, while new markets generate new income flows which benefit others who start new ventures, Predicting Technology unveils SERET, the Structural Evolutionary Regional Economic Theory. Distributed by MidPoint Trade Books, and available at all major retail bookstores and online.

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Tom Vass

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